IZMIR, TÜRKİYE, May 12. SOCAR Türkiye achieved record economic growth in 2022, the company’s Acting Director General Elchin Ibadov said at a press conference, Trend reports.
According to Ibadov, profit of Petkim company [SOCAR Türkiye owns 51-percent share] grew by 70 percent last year.
"Production figures at the STAR Refinery [SOCAR Türkiye's affiliate having its structure integrated with Petkim] more than doubled. We achieved these figures through the use of high technologies and infrastructure modernization," he explained.
The acting general director also said that 120 projects were implemented by STAR Refinery and Petkim alone.
"From their implementation, we attracted $750 million to our budget," he added.
SOCAR Türkiye started its commercial activities in Türkiye after acquiring a 51 percent share in Petkim in 2008. It includes best-in-class companies such as Petkim, TANAP (Trans-Anatolian Natural Gas Pipeline), STAR Refinery, SOCAR Terminal, Petkim wind power plant, Bursagaz, Kayserigaz, Enervis, SOCAR Enerji Ticaret, Millenicom, SOCAR Ticaret and SOCAR Depolama.
The company is focused on the manufacturing of petrochemical products, processing, trading and distribution of natural gas.