SOCAR to research new markets

Oil&Gas Materials 1 October 2012 15:51 (UTC +04:00)

Azerbaijan, Baku, Oct. 1 /Trend A. Akhundov/

The State Oil Company of Azerbaijan (SOCAR) is currently researching new Western European and non-European markets in spite of a concentration of its external activity mostly on the Swiss market. This was reported to Trend by a high ranking company representative.

SOCAR signed an agreement with Exxon Mobil on the purchase of its Swiss branch Esso Schweiz GmbH in November of last year. American Exxon Mobil passed the assets of Esso Switzerland to the SOCAR administration in late June.

Last week SOCAR commissioned its first gas station in Zurich. Over 160 former Esso gas stations in Switzerland will operate under the brand name of SOCAR till the middle of 2013.

"Starting July 1 we've been completely managing the business purchased from Exxon Mobil in Switzerland. The commission of the first gas station under the SOCAR brand name where the company logo was used has taken place. We are planning on completing the general rebranding of gas stations in Switzerland", the source stated.

The representative said the use of a new logo on all company gas stations is possible in the future.

"We are using it especially for the Swiss market for now. The logo is very professionally designed and attracts European customers. So far we are concentrating on Switzerland among European countries. We are always researching new markets, but it's too early to speak about specific new projects for now," the source said.

SOCAR is the only oil producer in the country. It owns two refinery plants as well as gas stations in Azerbaijan, Georgia, Ukraine and Romania.