Azerbaijan, Baku, Sept. 28 /Trend E. Ismayilov/
The State Oil Company of Azerbaijan (SOCAR) is going to have a complete rebranding of over 160 former Esso gas stations in Switzerland, a high ranking SOCAR representative told Trend on Thursday. Previously, SOCAR has commissioned its first gas station in Zurich.
"We are planning to complete the process within a year," the representative noted.
On June 29, a signing ceremony for the Change in Control procedure for the purchase of American ExxonMobil's Esso Switzerland assets by SOCAR took place in Zurich, Switzerland.
The total COST of the assets acquired by SOCAR in Switzerland is $330 million.
SOCAR signed an agreement with Exxon Mobil in November last year to acquire its Swiss branch called Esso Schweiz GmbH. The company will operate under the Esso brand for 12 months after the ownership changed. SOCAR has also taken over the Wangen-Olten gas station, and a number of others as well as joint ventures specialising in aircraft fuelling at Geneva and Zurich airports and the Swiss Provision and Supply Company that controls joint ventures managing terminals and pipelines.