SOCAR, Turk­ish Petroleum keen to ex­pand co­op­er­a­tion

Azer News - - Business - By Sara Is­rafil­bay­ova

Azer­bai­jan’s state oil com­pany SOCAR and Turk­ish Petroleum com­pany (Türkiye Petrol­leri) have dis­cussed the pos­si­bil­i­ties for the ex­pan­sion of co­op­er­a­tion be­tween the two com­pa­nies.

SOCAR re­ported that the com­pany’s Pres­i­dent Rov­nag Ab­dul­layev and Chair­man of Board and Di­rec­tor Gen­eral of Turk­ish Petroleum com­pany Melih Han Bil­gin held a meet­ing on De­cem­ber 25.

Ab­dul­layev pointed out that Turk­ish Petroleum, which is one of the first for­eign in­vestors of Azer­bai­jan, has been co­op­er­at­ing with SOCAR for a long time in such projects as Az­eri-Chi­rag-Gu­nashli (ACG), Shah Deniz and Baku-Tbil­isi-Cey­han (BTC).

Bil­gin, in turn, stressed the ex­is­tence of great prospects for the ex­pan­sion of co­op­er­a­tion. He stressed that the par­tic­i­pa­tion of Turk­ish com­pa­nies in the projects be­ing im­ple­mented in Azer­bai­jan and the par­tic­i­pa­tion of Azer­bai­jani com­pa­nies in Turk­ish projects play a very im­por­tant role for the economies of both coun­tries.

SOCAR has re­cently di­ver­si­fied its ac­tiv­ity - the com­pany im­ple­ments big projects not only in Azer­bai­jan, but also in promis­ing for­eign mar­kets, in­clud­ing Tur­key.

Such big projects as the Trans Ana­to­lian Nat­u­ral Gas Pipe­line (TANAP), STAR re­fin­ery, will be im­ple­mented in the com­ing months. TANAP, STAR re­fin­ery will be put into operation next year, which will have a pos­i­tive im­pact on the in­come of Azer­bai­jan and Tur­key.

TANAP project en­vis­ages trans­porta­tion of gas from Azer­bai­jan’s Shah Deniz field to the western bor­ders of Tur­key. The gas will be de­liv­ered to Tur­key in 2018 and af­ter com­ple­tion of the Trans Adri­atic Pipe­line's con­struc­tion nat­u­ral gas will be de­liv­ered to Europe in early 2020.

The length of TANAP is 1,850 kilo­me­ters, with an ini­tial ca­pac­ity of 16 bil­lion cu­bic meters of gas. Around six bil­lion cu­bic meters of this gas is meant to be de­liv­ered to Tur­key, with the re­main­ing vol­ume to be sup­plied to Europe.

SOCAR, be­ing the largest for­eign in­vestor in Tur­key, is the au­thor of very im­por­tant and large-scale projects in the en­ergy in­dus­try. SOCAR en­tered the Turk­ish mar­ket with the ac­qui­si­tion of Petkim. The com­pany’s in­vest­ments in Tur­key will be a to­tal of $19.5 bil­lion once they are com­pleted -Petlim, STAR Oil Re­fin­ery, Petkim Wind Power Plant (WPP) and TANAP projects.

SOCAR in­cludes such pro­duc­tion as­so­ci­a­tions as Azneft (the en­ter­prises pro­duc­ing oil and gas on­shore and off­shore), Az­erikimya (the chem­i­cal en­ter­prises) and Az­eri­gas (dis­trib­u­tor of gas pro­duced in the coun­try), as well as oil and gas pro­cess­ing plants, ser­vice com­pa­nies, and the fa­cil­i­ties in­volved in geo­phys­i­cal and drilling oper­a­tions.

Turk­ish Petroleum was founded in 1954 with the re­spon­si­bil­ity of be­ing in­volved in hy­dro­car­bon ex­plo­ration, drilling, pro­duc­tion, re­fin­ery and mar­ket­ing ac­tiv­i­ties as Tur­key's na­tional com­pany.

Be­ing an im­por­tant ac­tor of the na­tional econ­omy, TP achieved many “firsts” of the Turk­ish oil in­dus­try in the past. The Com­pany has given rise to 17 ma­jor com­pa­nies, in­clud­ing PETKİM, TÜPRAŞ and POAŞ to Tur­key.

To­day, Turk­ish Petroleum is a na­tional oil com­pany in­volved in merely up­stream (ex­plo­ration, drilling, well com­ple­tion and pro­duc­tion) sec­tor.

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