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Tag Archives: socar

SOCAR Drilling New Well at Oldest Oil field in Caspian Sea

Azerbaijan’s state oil company SOCAR will additionally produce about 3,650 tons of oil annually, thanks to the commissioning of a new well that is being drilled at the Oil Rocks offshore field, SOCAR said in a message posted on its website Nov. 24. The well’s projected depth is 1,700 meters …

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SOCAR Talks Implementation of AGRI Project

The Azerbaijan-Georgia-Romania Interconnector (AGRI) project is not dead, but its implementation needs time, Suleyman Gasimov, vice-president for economic issues at Azerbaijan’s state oil company SOCAR, said, Romanian media reported. Gasimov said that the project requires big investments. “It is necessary to build a terminal in Georgia, and then another one …

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Construction Work at Baku Refinery to Start in March 2017

Construction Work at Baku Refinery to Start in March 2017

Construction work on the territory of Heydar Aliyev oil refinery in Baku will commence in March 2017, Tofig Gahramanov, the SOCAR vice-president for strategic development, told reporters in Baku. The FEED project (Front End Engineering Design) on new installations will be finished in December, said Gahramanov. The all-factory (including buildings, …

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SOCAR Reveals Volumes of Gas Export to Georgia, Iran

Azerbaijan’s state oil company SOCAR exported 715.9 million cubic meters of gas to Georgia in January-September 2016, said Rahman Gurbanov, SOCAR vice president for oil and gas transportation and gas facilities, in his interview published by Natural Gas World Nov. 2. Meanwhile, Azerbaijan swapped 167.3 million cubic meters of gas …

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SOCAR May Put Up Joint Ventures’ Shares for Sale

SOCAR May Put Up Joint Ventures’ Shares for Sale

Azerbaijan’s state oil company SOCAR may put up for sale the shares of a number of its joint ventures, said SOCAR President Rovnag Abdullayev. He made the remarks Oct. 18 at a press conference dedicated to the beginning of the sale of bonds in the secondary market of Baku Stock …

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Over 90% Demand for SOCAR Bonds Accounts for Individuals

Over 90% Demand for SOCAR Bonds Accounts for Individuals

Absolute majority of applications for the purchase of bonds of Azerbaijan’s SOCAR State Oil Company was filed by individuals, SOCAR Head Rovnag Abdullayev said at the press conference dedicated to start of bond sales in secondary market of Baku Stock Exchange, Oct. 18. “Over 90 percent of the total number …

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SOCAR’s Bonds See Strong Demand

SOCAR's Bonds See Strong Demand

Bonds of Azerbaijan’s energy giant SOCAR, issued for the domestic market of the country enjoy high level of market uptake.   The demand for bonds, the nominal value of which is $1,000, has exceeded the supply twofold. Applications worth some $203,604 million were accepted by relevant institutes, while the total …

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SOCAR to Construct New Gas Pipeline in Georgia

gas pipeline

Azerbaijan’s state oil company SOCAR intends to construct a 360-kilometer gas pipeline in Georgia before late 2017, reads a message posted on the company’s website. The pipeline will make it possible to provide around 9,000 users with gas in Georgia. SOCAR President Rovnag Abdullayev, Azerbaijan’s Ambassador to Georgia Azer Huseyn, …

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The Number of Gas Consumers in Georgia Reach Million

socar

Millionth consumer has installed gas at home in Georgia, this special occasion has been celebrated by Georgian PM Giorgi Kvirikashvili, energy minister Ilia Eloshvili, Chairman of Government of Ajara Zurab Pataradze and President of Socar Rovag Abdulaev. Family lives in Ajarian region, village Khutsubani, at this time Socar gas Georgia …

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SOCAR Eyes Entering Bulgarian Oil Products Market

Azerbaijan’s state oil company SOCAR is interested in entering the Bulgarian oil products market, head of SOCAR Balkan Murad Heydarov told reporters. He noted that currently SOCAR is holding talks on the possibilities of benefiting from Bulgaria’s gas and oil products markets. “Such talks are underway. We believe this market …

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