The State Oil Company of the Azerbaijan Republic

Topics: Petroleum, Baku, Iran Pages: 2 (349 words) Published: May 21, 2013
The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, two oil refineries and one gas processing plant, an oil tanker fleet, a deep water platform fabrication yard, two trusts, one institution, and 22 subdivisions are operating as corporate entities under SOCAR. 

Joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR's participation, are doing business in different parts of the petroleum industry. SOCAR has representative offices in Georgia, Turkey, Romania, Austria, Switzerland, Kazakhstan, Great Britain, Iran, Germany and Ukraine and trading companies in Switzerland, Singapore, Vietnam, Nigeria, and other countries.

Our mission
is to provide energy security of the Republic of Azerbaijan, strategic interest on development of oil and gas, and petrochemical industry, support the increase of scientific and technical, economic and intellectual potential of Azerbaijan by applying advanced and eco-friendly technologies, hold crucial position in regional and international energy projects, and maximize the profit from the sale of hydrocarbon reserves and derived products in the domestic and foreign markets. 

Our vision
is to become a vertically integrated international energy company resting upon advanced experience on operation efficiency, social and environmental responsibility.

SOCAR is a huge company, employing nearly 80,000 employees


SOCAR’s profit rose by 23,5%
Baku, Fineko/ The report on financial activity of State Oil Company of Azerbaijan (SOCAR) for 2011 audited by Ernst&Young, shows that SOCAR’s profit rose by 23,5%. The...
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