BAKU, Azerbaijan, February 15. The State Oil Company of Azerbaijan (SOCAR) wants to foster global climate sustainability by 2050, Vice President of SOCAR Afgan Isayev said during the forum themed "Tax system in the new development period: Strategic Goals for a Sustainable Economy" held in Baku, Trend reports.
“Our mission is to convert SOCAR into a national energy corporation that will provide reliable, safe, and sustainable energy. SOCAR is currently at the beginning of its transformation process and operates in the oil and gas value chain. By 2035, the company hopes to have a diverse hydrocarbon and low-carbon business portfolio, as well as an emissions profile comparable to that of world energy leaders," he pointed out.
Meanwhile, SOCAR is engaged in the exploration of oil and gas fields, production, processing, and transportation of oil, gas, and gas condensate, marketing of oil and petrochemical products in domestic and international markets, and supply of natural gas to industrial enterprises and households in Azerbaijan, as well as to Europe.
To note, the Company has various operations in countries such as Türkiye, Georgia, Romania, Switzerland, Germany, and Ukraine, including trading activities primarily in Switzerland, Singapore, and Nigeria.
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