SOCAR Turkey discloses its investments in Turkey (PHOTO)

Oil&Gas Materials 30 November 2021 13:18 (UTC +04:00)
SOCAR Turkey discloses its investments in Turkey (PHOTO)

ISTANBUL, Turkey, Nov. 30

Elchin Mehdiyev - Trend:

SOCAR Turkey's investment costs exceed $16.5 billion, the company's Director General Zaur Gahramanov said at a press conference for representatives of the Azerbaijani media, Trend reports on Nov. 30.

According to Gahramanov, of the mentioned costs, $6.3 billion accounted for Star refinery, $600 million - SOCAR Depolama, and $400 million - SOCAR container terminal.

"Besides, $2.04 billion were invested in the privatization of Petkim, and about $1 billion more annually - $100 million each. We invested $6.5 billion in the TANAP project," he added.

SOCAR Turkey began its commercial activities in Turkey after acquiring 51 percent of Petkim shares in 2008. It includes best-in-class companies such as Petkim, TANAP, STAR Refinery, SOCAR Terminal, Petkim RES (wind farm), Bursagaz, Kayserigaz, Enervis, SOCAR Enerji Ticaret, Millenicom, SOCAR Ticaret and SOCAR Depolama.

The company focuses on the production of petrochemical products, processing, trade and distribution of natural gas.