The State Oil Company of the Azerbaijani Republic (SOCAR) and Gulf
Geophysics GZE (United Arab Emirates company) have established a
joint-stock company SOCAR-Gulf, Trend reports.
The company will have a charter capital of 100,000 manats.
Vasif Abdulkerimov is the company's spokesman.
SOCAR is a state oil company in Azerbaijan. It extracted 7.28 million
tons of oil and over 7 billion cubic meters of gas in 2010.
SOCAR is involved in the Azeri-Chirag-Guneshli and Shah-Deniz fields
of the Caspian Sea.
SOCAR is part of the Azneft (naval and land oil and gas extraction),
Azerkirimya (petrochemical industry) and Azerigaz (gas distribution)
companies.
SOCAR is the only maker of oil products in Azerbaijan, it has two
refineries. The company also has fuel stations in Azerbaijan, Georgia
and Ukraine. SOCAR is a co-owner of Turkey's largest petrochemical
complex, Petkim. SOCAR sells oil using the SOCAR Trading Company.
