Azeri Oil Oozes through Georgia with Turkey and Romania Next of the List

SOCAR is the government-owned entity responsible for all aspects of exploration and development related to oil and gas fields both onshore and offshore for the Republic of Azerbaijan. One of the largest companies in the world, it employs 70,000 people. Since 1994, SOCAR has signed 25 major production sharing agreements (PSAs) with consortiums of foreign oil companies, plus two major pipeline agreements: BTC (Baku-Tbilisi-Ceyhan) and SCP (Southern Caucasus Pipeline).

In 2006 SOCAR management decided to expand its activity in Georgia as well and acquired Kulevi oil terminal. Socar Energy Georgia, which was established in August to steer Socar’s operation in Georgia, has far reaching goals in mind. This new-born and open joint-stock company intends to invest in various economic projects in Georgia. General Director of Socar Energy Georgia Mahir Mammedov is elaborating on them. [More]