Petrol Ofisi plans to start investing in Azerbaijan by the end of the year

Oil&Gas Materials 1 April 2006 13:36 (UTC +04:00)

A Turkish company, Petrol Ofisi plans to start investing to the Azerbaijani aviation fuel sector by the end of 2006, the company `s Director General, Jan Nahum told, Trend reports citing Turkish mass media.

He reminded that Petrol Ofisi is a leader at the Turkish market of combustive-lubricating materials and its now revising its investments inside the country to start investing abroad.

We are planning to invest in marine and aviation sectors. In particular, engineering-evaluation works have been started in Azerbaijan, Georgia and Egypt. The particular attention we are paying to the aviation fuel sector in Azerbaijan, Nahum said, adding that the Petrol Ofisi `s major aim is to turn the company in the regional structure. We will be present at the Azerbaijani market by the end of the year, he concluded.

Petrol Ofisi currently owns 3,600 fuelling stations, and occupies 36% of combustive-lubricating materials sector in Turkey. Company `s assets in comparison with the last year have grown in 14% in 2006, and reached $8.8m; together with the 2005 revenue it made up $135m.