SOCAR develops comprehensive development draft plan
Azerbaijan, Baku, May 24 / Trend /
The State Oil Company of the Azerbaijan Republic (SOCAR) has prepared a primary version of its development plan to 2025.
Recently, the company held a meeting chaired by SOCAR President Rovnag Abdullayev. The meeting discussed the draft document presented by Vice President of Strategic Development Tofig Gahramanov.
The plan will be revised and improved given suggestions and comments voiced at the meeting.
SOCAR is the State Oil Company of Azerbaijan. SOCAR's oil and gas enterprises produced 7.28 million tons of oil and more than 7 billion cubic meters of gas in 2010.
SOCAR and foreign partners are involved in such major projects as the development of the block of oil and gas fields "Azeri-Chirag-Guneshli" and Shah Deniz gas condensate field in the Caspian Sea.
SOCAR includes Azneft production association (the companies producing oil and gas onshore and offshore), "Azerkimya" industrial association (chemical enterprises), Azerigaz industrial association (gas distribution).
SOCAR is the only producer of oil products in the country (it has two refineries on its balance), and also owns petrol stations in Azerbaijan, Georgia and Ukraine. SOCAR is co-owner of the largest Turkish petrochemical complex Petkim. The company carries out the oil trade in various regions of the world through SOCAR Trading.