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SOCAR Hopes to Obtain Control of Biggest Turkish Chemical Company

Oil&Gas Materials 30 March 2007 13:28
SOCAR Hopes to Obtain Control of Biggest Turkish Chemical Company

Azerbaijan, Baku / corr. Trend S.Aliyev / The State Oil Company of Azerbaijan (SOCAR) has informed of its intention to participate in a competition on the privatization of the biggest chemical company PETKIM of Turkey. Turkey supported SOCAR's willingness to obtain control of this enterprise.

Hilmi Guler, the Turkish Energy Minister, said that after the implementation of the project, Azerbaijan will become one of the biggest investors in the Turkish energy market. SOCAR's senior management held a meeting in Turkey involving SOCAR

The talks in Turkey focused on the construction of an oil refinery plant in Ceyhan port. SOCAR intends to refine over 10mln tons of its own oil for the further sale of its oil products to the Turkish and European markets.

By 15 April SOCAR plans to develop the documents on the construction of an oil refinery plant in the Turkish port of Ceyhan and make an official appeal.

The meetings held in Turkey discussed opportunities for transporting gas from Kazakhstan and Turkmenistan via the territory of Turkey and Azerbaijan. Talks were also held with shipping company Palmali concerning the transportation of Azerbaijani oil delivered to Turkey via the Baku-Tbilisi-Ceyhan export oil pipeline, to world markets.

SOCAR is considering opportunities to transport its oil under the contracts of direct oil deliveries using a fleet of ships from Palmali.

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