SOCAR on a right way - Salans

Oil&Gas Materials 7 June 2006 16:07 (UTC +04:00)

State Oil Company of Azerbaijan Republic (SOCAR) may not turn into large corporations as Statoil or Petrobras, but it is on the right way, Trend reports quoting James Hogan, Partner with Salans, speaking in Baku at В"Sustainable development of oil&gas operations in Caspian SeaВ" conference.

Salans is SOCARs consultant for restructuring.

Hogan said Salans already submitted preliminary recommendations of further review of SOCARs operations to Azeri government in a view of its commercial restructuring.

In late 2003 Azeri government and SOCAR decided to restructure the company at support of WB and EBRD.

В"Our team ha performed a SWOT analysis in SOCAR and its subdivisions in comparison with similar oil companiesВ", - he stressed.