SOCAR Turkey announces change in shareholder structure

Oil&Gas Materials 3 September 2021 11:56 (UTC +04:00)
SOCAR Turkey announces change in shareholder structure

BAKU, Azerbaijan, Sept.3

By Leman Zeynalova - Trend:

Sermaye Investments Limited, a subsidiary of Azerbaijan’s state oil company SOCAR, has completed the acquisition of 890,574,713 shares of SOCAR Turkey, representing approximately 13 percent of the company’s capital, previously owned by Goldman Sachs International, Trend reports with reference to Turkey’s Public Disclosure Platform.

As such, SOCAR's direct and indirect shareholding rate in SOCAR Turkey rose from 87 percent to 100 percent.

SOCAR Turkey, which is one of the most deep-rooted global oil and natural gas companies, initiated its business operations in Turkey upon acquisition of 51 percent of the shares of Petkim from the Privatization Administration in 2008.

Drawing attention with its giant projects realized one after another which will have a total investment value of 19.5 billion US Dollars once completed, SOCAR Turkey encompasses the best-in-breed companies such as Petkim, TANAP, STAR Refinery, SOCAR Terminal, Petkim RES (Wind Power Plant), Bursagaz, Kayserigaz, Enervis, SOCAR Enerji Ticaret, Millenicom, SOCAR Ticaret and SOCAR Depolama.

Focusing on its main investment areas, namely petro-chemical products, refining, natural gas trade and distribution, SOCAR Turkey is the first company to get the title of 'Private Industrial Zone' in Turkey for its fields covering most of its investments in Aliaga.


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