SOCAR details on corporate strategy by 2035

Oil&Gas Materials 14 October 2021 11:45 (UTC +04:00)
SOCAR details on corporate strategy by 2035

BAKU, Azerbaijan, Oct.14

By Leman Zeynalova - Trend:

Azerbaijan’s state oil company SOCAR has adopted a corporate strategy by 2035, Trend reports with reference to the country’s Investment Holding.

The new strategy features the development tendencies of the company’s global, regional and local projects, coordination of activity, main directions of the value chain’s integration. Moreover, the strategy will focus on digitalization of the production cycle, support for innovations, development of human resources.

The corporate strategy will enable SOCAR to create a diversified investment portfolio.

SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, one oil refineries and one gas processing plant, a deep-water platform fabrication yard, two trusts, one institution, and 23 subdivisions are operating as corporate entities under SOCAR.

SOCAR conducts various petroleum activities in countries such as Georgia, Turkey, Romania, Switzerland, Germany and Ukraine, including trading activities, mainly in Switzerland, Singapore and Nigeria.


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