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SOCAR Turkey to supply natural gas to Kayseri and Bursa

Turkey's largest foreign investor, SOCAR, has acquired EWE Turkey Holding and its group of companies, which manages the operations of the German energy company EWE AG in Turkey. “The purchase of this natural gas distribution business will complete our investment chain in Turkey, creating additional value for Azerbaijan and Turkey,'' said Rovnag Abdullayev, President of SOCAR.


Turkey's largest foreign investor, SOCAR, has acquired EWE Turkey Holding and its group of companies, which manages the operations of the German energy company EWE AG in Turkey. “The purchase of this natural gas distribution business will complete our investment chain in Turkey, creating additional value for Azerbaijan and Turkey,'' said Rovnag Abdullayev, President of SOCAR.

SOCAR aims to become a major industrial actor in Turkey through the wide range of investment projects and acquisitions. In the next step SOCAR acquired Bursagaz, Kayserigaz, Enervis, EWE Energy and Millenicom, the companies within EWE Turkey Holding. SOCAR has been supplying natural gas to the Turkish market for the last 12 years and began expanding its operations this year through the Trans Anatolian Natural Gas Pipeline (TANAP), a major joint project between Turkey and Azerbaijan.

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Drilling, production and export rates for 2018

• SOCAR conducted over 160,000 meters of drilling work in the year1
• SOCAR's gas production increased by 7.2% compared to the previous year
• Azerbaijan produced 38.81 million tons of oil2 and 30.49 billion cubic meters of gas in 2018
• SOCAR exported 23.88 million tons of crude oil3, 1.82 million tons of oil refining and petrochemical products4, 1.42 billion cubic meters of natural gas5 in 2018
• Last year SOCAR provided almost 89% of the natural gas6 at its disposal to the local market, fully covering the domestic demand
The key performance indicators of SOCAR continued to grow in 2018. During the year, SOCAR conducted over 160,000 meters of drilling work, excluding operating companies and joint ventures, a rise of 16.6 percent against the relevant figure for 2017.

In 2018, SOCAR produced on its own accord 7.54 million tons of oil7 and 6.53 billion cubic meters of natural gas8, increasing its production correspondingly by 1.6 percent and 7.2 percent, compared to the same period of the previous year. In total, Azerbaijan produced 38.81 million tons of oil and 30.49 billion cubic meters of natural gas in 2018. Thus, the annual oil production was relatively stable9 and gas production increased by 6.6%. .

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SOCAR boosts budget payment for 2018 by more than 6% and contribution to welfare fund by more than 10.5%

SOCAR contributed AZN 1.65 billion to the State Budget for 2018. Compared with the previous year’s figures, the company's budget payments grew by AZN 93.2 million, a rise of 6.2%. In addition, SOCAR’s payment to the State Social Protection Fund (SSPF) amounted to AZN 172.5 million an increase of 10.6% against the same period of 2017.
Rovnag Abdullayev, President of SOCAR said: ''Following the instruction from the President of the Republic of Azerbaijan Ilham Aliyev, SOCAR has implemented reforms over the past decade facilitating the shift to becoming a more integrated global energy company resulting in a rise of its operational efficiency and the commencement of diversification of its services and products through whole value chain. As a result of well-timed effective measures, SOCAR's revenue and budget payments are growing despite price fluctuations in the market.

Today, SOCAR, the global brand of Azerbaijan, earns the largest portion of revenue from foreign operations, re-investing this revenue for the welfare of our country and boosting its contribution to the state budget annually.''.

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Memorandum of understanding signed between SOCAR and JSC NC KazMunayGas

Representatives of SOCAR headed by the President Rovnag Abdullayev held a meeting in Baku with a delegation from Kazakhstan, led by Alik Aydarbayev, Chairman of the Management Board of the JSC National Company KazMunayGas. Kurmangazy Iskaziev, Deputy Chairman of the Management Board of the JSC NC KazMunayGas, Dimash Dosanov, General Director of JSC Kaztransoil and Marat Ormanov, General Director of the National Maritime Shipping Company Kazmortransflot also participated in the meeting.
The representatives of both companies discussed the prospects of wider cooperation between the two companies throughout all segments of the oil and gas industry and a joint work plan for the near future. Later on, heads of SOCAR and KazMunayGas signed a memorandum of understanding.

The Memorandum envisages a wide range of potential cooperation between the companies, including possible cooperation in geological exploration in the Caspian Sea, joint exploration of geological and geophysical materials on the exploration of hydrocarbon crude as well as transport and trading. Within the scope of the memorandum, Satti, a jackup rig of KazMunayGas will be delivered to Baku where it will be modernized and later used for drilling work by SOCAR in the projects in Azerbaijani sector of the Caspian Sea.

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The State Oil Company of Azerbaijan… at a glance

Discover SOCAR

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.

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International ratings

When investors and credit organizations wish to cooperate with any company, first of all the international rating of the company in discussion is reviewed.

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