Digitalization ranks second in SOCAR’s strategic development plan

Oil&Gas Materials 5 February 2020 18:39 (UTC +04:00)

BAKU, Azerbaijan, Feb. 5

By Nargiz Ismayilova – Trend:

The digitalization based on the principles of the great industrial revolution ranks second in strategic development plan of the State Oil Company of the Azerbaijan Republic SOCAR after oil and gas, SOCAR President Rovnag Abdullayev said, Trend reports on Feb. 5 with reference to the company.

“Probably, there will be no future for the companies lagging behind in the field of digitalization in the next decade,” Abdullayev added.

“We are implementing great programs and the digitalization that we have conducted at Petkim petrochemical complex has already been recognized at the world level,” SOCAR president added. “In this sense, Petkim is among 18 most successful companies. Petkim was highly praised at the World Economic Forum in Davos in terms of digitalization.”

Petkim manufactures plastic packaging, fabrics, PVC, detergents, and being the only Turkish manufacturer of these products, the company exports a quarter of its production.

The complex includes 14 factories manufacturing 20 different types of products. Petkim's production capacity is 3.6 million tons per year.

Equity participation of shareholders in the complex’s capital is as follows: SOCAR Turkey Petrokimya A.S. - 51 percent, and 49 percent of the shares are in free float on the stock exchange.