Azerbaijan, Baku /corr. Trend S.Aliyev / The State Oil Company of Azerbaijan (SOCAR) and 'GazMunayGaz' JSC reached an agreement to jointly participate in the process of privatizing Turkish Petkim Petro-Chemical Holding, a source in SOCAR stated. "If the sides win the bid on privatizing the chemical holding, it will be managed jointly," the same source stated.
In addition to SOCAR, applications for purchasing 51% State share in Petkim have been submitted by Turkish Turcas Petrolculuk AS, Zorlu, Anadolu, Ulker, and Indian Oil Corp. The market cost of the pack exceeds $700mln.