SOCAR is active participant of tender for DEPA privatization

Oil&Gas Materials 15 September 2012 15:48

Azerbaijan, Baku, Sept. 15 / Trend E. Ismayilov /

SOCAR is still interested in the assets of the Greek company DEPA, put for privatization, SOCAR head Rovnag Abdullayev told media today.

He said that at present, the company's experts are working on this issue. The assets may be bought by SOCAR in the case of the economic advisability and rationality.

"These assets are interesting," he said. "We participate in the tender. We are one of the active participants. But the tender procedure has not been completed yet. We will buy them if this suits us."

The Greek government approved the privatization program on May 23, which should bring about 50 billion euros into the treasury of the country by 2015. Adopting this program is one of the conditions of international lenders (the EU and the IMF) for further credit support to the country.

From 55 to 90 percent share holding in DEPA may be put for privatization.
SOCAR includes Azneft, which produces oil and gas onshore and offshore), the Azerkimya industrial association, a chemical enterprise, and Azerigaz industrial association, a gas distributor.

SOCAR is the only producer of oil products in the country (it has two refineries on its balance sheet) and also owns petrol stations in Azerbaijan, Georgia, Ukraine and Romania. SOCAR possesses a network of petrol stations in Switzerland. SOCAR is co-owner of the largest
Turkish petrochemical complex Petkim.