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CONTENTS
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* 1 History
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* 1.1 Soviet era
* 1.2 Post-independence
* 2 Operations
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* 2.1 Upstream operations
* 2.2 Pipeline operations
* 2.3 Refining operations
* 2.4 Retail station operations
* 2.5 Other operations
* 3 Locations
* 4 Accidents
* 5 Corruption and controversies
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* 5.1 Bribery and illegal payments
* 5.2 Embezzlement
* 5.3 Murder of Maltese journalist Daphne Caruana Galizia
* 5.4 War propaganda
* 6 Sponsorship
* 7 See also
* 8 References
* 9 External links
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From Wikipedia, the free encyclopedia
State-owned oil and gas company in Azerbaijan
This article is about Azerbaijan oil company. For the US state sometimes
referred to as "SoCar", see South Carolina.
State Oil Company of the Republic of Azerbaijan
Trade name
SOCAR
Native name
Azərbaycan Respublikası Dövlət Neft ŞirkətiCompany typeState-ownedIndustryOil
and gasFounded13 September 1992 (1992-09-13)FounderAbulfaz ElchibeyHeadquarters
Baku
,
Azerbaijan
Area served
Europe & Asia
Key people
Rovshan Najaf (president)Products
* Petroleum
* Natural gas
* Fuels
* Petrochemicals
Services
* Sales
* Transportation
* Service stations
* Trading
* Shipbuilding
Revenue AZN 119,2 bn (2022)[1]
Operating income
AZN 9.36 bn (2022)[1]
Net income
AZN 9.4 bn (2022)[1]Total assets AZN 80.8 bn (2022)[1]Total equity AZN 33.3 bn
(2022)[1]OwnerAzerbaijani Government
Number of employees
100,000 (2018)[2]SubsidiariesBOS Shelf, AZFEN, Petkim, Star Refinery, Baku
Shipyard LLC, Interfax Azerbaijan, Ateshgah Insurance, AzLAB, EKOL
EngineeringWebsitewww.socar.az
The State Oil Company of the Republic of Azerbaijan (Azerbaijani: Azərbaycan
Respublikası Dövlət Neft Şirkəti, ARDNŞ), largely known by its abbreviation
SOCAR, is a fully state-owned national oil and gas company headquartered in
Baku, Azerbaijan. The company produces oil and natural gas from onshore and
offshore fields in the Azerbaijani segment of the Caspian Sea. It operates the
country's only oil refinery, one gas processing plant and runs several oil and
gas export pipelines throughout the country. It owns fuel filling station
networks under the SOCAR brand in Azerbaijan, Turkey, Georgia, Ukraine, Romania,
Switzerland, and Austria.
SOCAR is a major source of income for the authoritarian regime in Azerbaijan.[3]
The company is run in an opaque manner, as it has complex webs of contracts and
middlemen that have led to the enrichment of the country's ruling
elites.[3][4][5][6][7]
HISTORY
[edit]
Main article: Oil industry in Azerbaijan
SOVIET ERA
[edit]
SOCAR’s Heydar Aliyev Baku Oil Refinery
Azneft, a business that integrated the Azerbaijani oil industry was created
after the Bolshevik Revolution through the nationalization of the Azerbaijani
oil industry. It was subordinate to different organizations in the former Soviet
Union and the Azerbaijan Soviet Socialist Republic, depending on its
organizations' characteristics at different times and was known as
Azerneftkomite, Azerneftkombinat (later divided into the Azerneft,
Azerneftzavodlar and Azerneftmashingayirma syndicates), and Azerneftchikharma
syndicates, and so forth. In 1954–1959,, the Ministry of the Oil Industry of the
Azerbaijan SSR and in 1965–1970, the Ministry of Oil Production Industry of the
Azerbaijan SSR were established on the basis of Azerneft. In August 1970, it was
renamed back to Azerneft.[citation needed]
POST-INDEPENDENCE
[edit]
As the Republic of Azerbaijan gained independence, Azerineft State Concern was
established on 3 December 1991. The State Oil Company of the Azerbaijan Republic
(SOCAR) was created on 13 September 1992 by the merger of Azerbaijan's two state
oil companies, Azerineft State Concern and Azerneftkimiya Production Association
according to the decree of then president Abulfaz Elchibey.[8][9] In 1994, the
Onshore and Offshore Oil and Gas Production Association were established as part
of the State Oil Company. In 2003, the Onshore and Offshore Oil and Gas
Production Association were merged to form the Azneft Production Union.[10]
On July 21, 2022, Rovshan Najaf was appointed as the President of SOCAR as based
on the decree issued by Ilham Aliyev, the President of the Republic of
Azerbaijan.[11] In December 2005, the former head of the Baku Oil Refinery and a
member of the Azerbaijani parliament, Rovnag Abdullayev, was appointed President
of SOCAR. He replaced Natig Aliyev, who was named Azerbaijan's Minister of
Industry and Energy.[12] On the 21st of July 2022, Rovshan Najaf was appointed
President of State Oil Company of the Republic of Azerbaijan, SOCAR.[13]
The Azerbaijan government adopted for a strategy in the 1990s to rev up oil
exploration and deplete existing oil wells, with immediate economic gains.
Victor Menaldo writes that recently independent Azerbaijan found "itself in a
fragile and desperate situation after a war against Armenia, a huge banking
crisis, and an economic collapse" and that "the government was left with no
other option than to rev up oil exploration and hasten the depletion of extant
wells, despite the fact that oil discoveries had peaked."[14]
Menaldo wrote in 2016, "the days in which the Azerbaijani state can offset its
underlying weakness by drilling its way out of trouble are numbered... Whether
Azerbaijan can now transition to a more diversified economy is an open
question."[14] Thomas de Waal wrote in 2018, "Azerbaijan’s economy showed
classic symptoms of “Dutch Disease,” the condition whereby heavy reliance on the
export of one product—usually oil or gas—weakens the rest of the economy."[6]
According to De Waal, the oil wealth had enriched political and economic elites
in Azerbaijan, along with underspending of the oil riches on long-term
development.[6]
OPERATIONS
[edit]
UPSTREAM OPERATIONS
[edit]
SOCAR's activities are exploration, preparation, exploitation of onshore and
offshore oil and gas fields, transportation, processing, refining and sale of
oil, gas, condensate and other related products.[9] SOCAR's exploration
activities cover the prospective offshore fields in the Azerbaijani sector of
the Caspian Sea. The current largest fields being explored are Shafag-Asiman,
which is explored with BP,[15] and Absheron natural gas fields which are being
explored together with BP and TotalEnergies respectively.[16]
In 2010, SOCAR and BP signed a new production sharing agreement regarding
Shafag-Asiman.[17] In 2014, SOCAR and BP signed a joint exploration and
development over the Shallow Water Absheron Peninsula.[18] SOCAR has explored
the Umid and Bulla Deniz gas fields. In 2017, SOCAR and a consortium led by BP
signed a letter of intent for future development of the Azer-Chirag-Gunashli
field.[19][20][21] They signed a $6 billion contract regarding the Azeri Central
East (ACE) platform on the Azeri-Chirag-Gunashli field.[22][23][24][25]
In 2016,, SOCAR produced 6.27 billion barrels (997,000,000 m3) of gas.[26][27]
Azerbaijan has 57 oil fields, 18 of which are offshore, in the Azerbaijani
sector of the Caspian Sea. The essential part of the company's revenue comes
from the giant ACG oil field complex and Shah Deniz gas field. In September
1994, SOCAR entered into a Production sharing agreement (PSA) with the foreign
oil companies led by BP for the 30-year development of the ACG oil field, which
was later known as the Contract of the Century. Two years later Shah Deniz PSA
was signed. As of 2014, SOCAR holds 11.6% of the ACG shares and 16.7% of the
Shah Deniz shares.[28] Moreover, SOCAR operates a number of onshore fields on
its own which is the main source of the domestic supply.. In 2013,, 43.48
million tons (318.74 million barrels) of oil was produced in Azerbaijan, of
which 8.31 million tons (60.95 million barrels) belong to SOCAR. In the same
period, Azerbaijan's natural gas production reached record high of 29.46 billion
cubic metre of which SOCAR shares constitute 7.14 billion cubic metre of
it.[29][30]
On 22 December 2023, after 30 years operating in the country’s oilfields, Norway
based Equinor announced it was selling its assets in Azerbaijan to SOCAR. The
sale includes an 8.7% interest in the Baku Tbilisi Ceychan pipeline, used to
pump oil to Turkey’s Western coast, a 7.27% interest in the
Azeri-Chirag-Gunashli oilfield, and a 50% stake in the Karabakh
oilfield.[31][32]
PIPELINE OPERATIONS
[edit]
SOCAR has a share in two parallel-running major export pipelines of the country;
Baku-Tbilisi-Ceyhan pipeline (BTC) and South Caucasus Pipeline (SCP).[33]
Azerbaijan's major export pipelines
The pipelines deliver the ACG and Shah Deniz hydrocarbons from Sangachal
Terminal located in 45 km south of Baku to Turkey and Europe. They pass through
the borders of three countries: Azerbaijan, Georgia and Turkey. The share of
SOCAR in the BTC and SCP is 25% and 16.7% respectively.[34] In addition, SOCAR
is the major shareholder with 58% ownership in the Trans-Anatolian gas pipeline
(TANAP) and with 20% ownership in Trans Adriatic Pipeline (TAP) which are meant
to transmit some 16 bcma of gas produced from the second phase of Shah Deniz gas
field with 10 bcma of that going to Europe and 6 bcma to Turkey..[35][36] The
TAP is seen as a competitor to Russia's South Stream because of diversification
of gas supplies to Europe. In February 2021, SOCAR's vice president for
investment and marketing, Elshad Nasirov, stated that 20% of TANAP would be able
to transport hydrogen to Europe without additional investments.[37][38]
The company has stakes in the relatively low-capacity Baku-Supsa Pipeline and
Baku-Novorossiysk Pipeline. The Azerbaijani part of the Baku-Novorossiysk
Pipeline is operated by SOCAR, whereas Baku-Supsa Pipeline's operator is BP.
Moreover, SOCAR operates Dubendi Oil Terminal[39] in Azerbaijan and Kulevi Oil
Terminal in Georgia, which are important for transportation and export.[40]
An additional supply contract was signed in May 2021, with Russia's Rosneft, to
start supplying Ukraine and other countries with oil products and LPG. This came
about after Swiss trader Proton Energy suspended shipments of Russian diesel to
the country that April.[41] This is the first time since 2016 that another
company will be supplying Rosneft products to the Ukraine. According to BM
Georgia, the supply agreement will provide SOCAR with an additional 100,000 tons
of diesel fuel and 12,000 tons of LPG.[42]
REFINING OPERATIONS
[edit]
SOCAR has two oil refineries and one gas processing plant. Azerneftyagh Oil
Refinery specializes in the production of fuels and oils, producing gasoline,
kerosene and diesel distillates, various oils (industrial, motor, transformer
etc.) and asphalt. All fuel distillates produced there are sent to Heydar Aliyev
Baku Oil Refinery for redistillation. The refinery processes 21 out of 24 grades
of the Azerbaijani crude. It meets the country's entire demand for petroleum
products, and 45% of its petroleum products are exported. The Gas Processing
Plant produces processed gas, liquified gas and natural gasoline. In 2010, the
plant produced 4 bcm of processed gas, 24,800 tons of liquefied gas and 26,700
tons of natural gasoline.[43]
Two subsidiaries of Maire Tecnimont S.p.A signed two EPCs with Heydar Aliyev Oil
Refinery (HAOR) for its modernization and reconstruction in 2021. The one EPC is
for the installation of a Fluid catalytic cracking (FCC) gasoline hydrotreating
unit, and the other for the installation of an LPG mercaptan oxidation unit and
an amine treatment and LPG pre-treatment unit.[44] SOCAR and Axens signed
licensing and design agreements for the FCC unit included in the HAOR
modernisation project. With this, engineers will be provided with schooling
related to the units, as well as specifically aiming to develop energy
efficiency skills and sustainability.[45]
RETAIL STATION OPERATIONS
[edit]
SOCAR fuel filling station on Babek Avenue, Baku, Azerbaijan
The first fuel station of the company under the brand name SOCAR was opened in
neighboring Georgia in 2008, before any in its home country. The fuel stations
in Georgia are operated by the subsidiary of the company SOCAR Georgia
Petroleum. As of 2014, there were currently more than 110 filling stations in
Georgia making it the largest retail fuel station network of SOCAR.[46] In
Azerbaijan, the company operates a few (less than any other country where it
operates)[47] filling stations under the brand name SOCAR since 2010. It is the
third-largest network of retail stations in Azerbaijan after Azpetrol and
Lukoil. In 2011, the first retail station of SOCAR was opened in Ukraine. In
October 2014, the number of the SOCAR stations in Ukraine reached 40.[48]
In 2011, the company entered into the Romanian market, acquiring initially 90%
and at a later stage the rest 10% of the stake in Romtranspetrol.[49] In
September 2014, SOCAR launched its 30th filling station in Romania.[50] In
November 2011, SOCAR bought ExxonMobil's Swiss subsidiary Esso Schweiz for an
undisclosed amount. Along with the acquisition SOCAR became the owner of a
network of more than 160 filling stations operating under the brand name Esso
across the country.[51] The first SOCAR premium fueling station in Switzerland
after the rebranding was opened in September 2012 in Zürich. All the operations
in Switzerland are managed and led by SOCAR Energy Switzerland.[52][53]
In 2021, plans were announced that Alpiq, EW Hofe and SOCAR Energy Switzerland
will be building an electrolysis plant in the Freienbach district, which is to
produce 1,000 to 1,200 tons of emission-free mobility green hydrogen a year. The
green hydrogen that is produced there will be transported in the pipelines of
the former substation to the Fuchsberg motorway service station, where SOCAR
will set up filling stations.[54][55][56]
OTHER OPERATIONS
[edit]
In December 2007, SOCAR Trading was incorporated and became the marketing
division of SOCAR. Headquartered in Geneva, SOCAR Trading offers
ultra-low-sulfur-diesel, liquefied petroleum gas and markets SOCAR crude oil
export volumes[57] from Ceyhan, trades third-party crude and oil products and
assists SOCAR with international investments in logistics, downstream and sales.
Alongside its field of activity in marketing and sales, SOCAR Trading assists
SOCAR in expanding SOCAR's assets as well.[58]
Azerigaz Production Union (PU) has been carrying out transportation,
distribution and sale of natural gas in the territory of the Republic of
Azerbaijan. The Union has also been ensuring transportation of natural gas
produced by SOCAR to the Islamic Republic of Iran, Georgia and the Russian
Federation.[59]
Main directions of SOCAR Georgia Gas activity comprise import into the Georgian
market and sale of natural gas, as well as construction and rehabilitation of
gas pipelines. In 2010, the company was honoured with 'Best Company of the year'
for active participation in 'Gas provision of all villages' program of the
Georgian President.[citation needed]
Baku Shipyard LLC[60] joint venture was founded on 10 May 2011 under the laws of
Republic of Azerbaijan, by the State Oil Company of Azerbaijan (SOCAR) owning
65%, Azerbaijan Investment Company (AIC) 25%, and Keppel Offshore Marine (KOM)
10%, has developed and put into operation the most modern shipbuilding and
ship-repair facility in the Caspian Sea.
Opening ceremony of Star Oil Refinery was held on 19 October in İzmir, Turkey
with the participation of Ilham Aliyev and Recep Tayyip Erdoğan. Since the
beginning of the project, US$1 392.8 million has been allocated to finance the
Azerbaijani share on the STAR project within the framework of the SOFAZ's budget
execution.[61][62]
On 15 July 2021, SOCAR signed a cooperation agreement with Technip Energies
involving a joint pilot project to produce offshore energy on a floating wind
turbine. Back in April of the same year, Azerbaijan had signed a memorandum of
understanding with the International Finance Corporation (IFC) in order to
cooperate on offshore wind development. The cooperation between the two
companies is to determine the potential of the countries offshore wind
possibilities.[63][64]
LOCATIONS
[edit]
SOCAR's previous Head Office on Azneft Square in downtown Baku, named after
historical "Azneft" ("AzOil") trust
SOCAR's headquarters are located in a 42-floor SOCAR Tower which was under
construction since 2010 and completed in late 2016. It is the tallest skyscraper
in the Caucasus with 209m of height. Apart from the head office, SOCAR's
supporting offices are dispersed across the city.
The first representative office of SOCAR was established in London in 1994. Now
the company has offices in London, Frankfurt, Geneva, Vienna, Bucharest,
Istanbul, Kyiv, Tbilisi, Astana and Tehran.[65][66][67]
ACCIDENTS
[edit]
On 17 August 2013, a gas blowout occurred at the platform No.90 of Bulla Deniz
field. As a result, the platform burned from 17 August to 24 October 2013.[68]
On 23 October 2014, four workers were killed and three workers were in injured
when during repair works on the platform No. 441 at the Narimanov field a small
wagon-house fell into the sea which damaged a gas pipeline and caused a
fire.[69][70] Altogether, fourteen SOCAR's workers were killed in oil and gas
platforms accidents in 2014.[71]
On 4 December 2015, three workers of SOCAR were reported missing after part of
the living quarters at Oil Rocks fell into the sea due to a heavy storm.[72] At
the same day, seven workers were killed, 23 reported missing, and 33 were
rescued and evacuated when a fire broke out on the platform No. 10 at the
western section of the Gunashli oilfield.[71][73][74] (As of January 2016, a
total of 10 bodies have been found, leaving 20 people unaccounted for.)
CORRUPTION AND CONTROVERSIES
[edit]
SOCAR is often associated with the widespread corruption in Azerbaijan. In a
2011 survey by Transparency International concerning the anti-corruption
practices of 44 oil companies, SOCAR ranked last.[75] Frank Schwabe, a member of
the German Bundestag and member of the Parliamentary Assembly of the Council of
Europe, sees SOCAR as a "central steering instrument for the foreign policy and
sports policy of the authoritarian president of Azerbaijan."[76] SOCAR is
considered "well-connected" in Germany and plays a role in the wake of
revelations about lobbying and corruption in connection with the Azerbaijani
laundromat. The state-owned company supports, among other things, annual
symposia organized by the Azerbaijani Embassy in Berlin and the
German-Azerbaijani Forum association (DAF).[77][78]
BRIBERY AND ILLEGAL PAYMENTS
[edit]
In 1997/1998, the government of Azerbaijan was in the process of privatizing
SOCAR. In 2009 Frederic Bourke, founder of Dooney & Bourke and Viktor Kožený
were convicted by a court in Manhattan on paying bribes to the former president
of Azerbaijan, Heydar Aliyev, his son and first vice-president of SOCAR at that
time Ilham Aliyev and other Azerbaijani government leaders to induce them to rig
the privatization of SOCAR in Bourke’s and Kožený's favor. Bourke denied knowing
about the bribes, while Kožený admitted bribing Azerbaijani leaders. According
to the indictment, the total amount of bribes reached 11 million
dollars.[79][80][81]
According to a confidential ethics report, in 2013 SOCAR secretly funded a trip
to a conference in Baku for 10 U.S. members of Congress and 32 of their staff.
Three former senior advisers to then-President Barack Obama appeared as speakers
at the event. The congressmen and their staff had their travel expenses and
luxury gifts paid for by SOCAR worth hundreds of thousands of dollars. SOCAR
allegedly funneled $750,000 in funds through nonprofit companies based in the
United States to disguise the origin of the funds. Members of Congress
participating in the trip later stated that they had not known that the trip had
been funded by SOCAR. SOCAR itself stated that its sponsorship had never been a
secret.[82][83]
In 2017, it became known that SOCAR had made illegal payments totaling 28,000
euros to the Christian Democratic Union of Germany district association in
Frankfurt in 2012. By accepting the donations, the party violated the Political
Parties Act, as corporate donations from non-EU countries are prohibited. The
case led to a years-long legal dispute with the Bundestag administration, of
which the public did not learn.[84][78]
In 2018, it became known that SOCAR paid a controversial donation of 3,000 euros
to the German sports club "TuS Dexheim" in 2014. The donation was organized by
the then-mayor of Oppenheim and former Social Democratic Party of Germany member
of the Bundestag Marcus Held.[85][86]
EMBEZZLEMENT
[edit]
Two SOCAR subsidiaries embezzled $1.7 billion as part of a contract with BP to
expand its operations in the Shah Deniz gas field. The embezzled funds were
supposed to go Azerbaijan's public coffers.[87]
MURDER OF MALTESE JOURNALIST DAPHNE CARUANA GALIZIA
[edit]
SOCAR is also part of corruption revelations that led to the murder of Maltese
investigative journalist Daphne Caruana Galizia in October 2017.[88][89][90]
SOCAR's Maltese chief is in custody as a main suspect in connection with the
murder.[76][91]
In April 2021, a Swiss court dismissed a lawsuit by SOCAR, in which Azerbaijan's
state-owned company sought to prevent the disclosure of bank information to
Latvian police. Latvia is investigating suspicious payments of about 28 million
euros by Azerbaijani-controlled shell companies linked to an agreement between
the Maltese government and SOCAR. The agreement became public during the
investigative research of murdered journalist Daphne Caruana Galizia.[92]
Latvian authorities were able to force Swiss banks to release banking
information about SOCAR in connection with the investigation of an international
money laundering scandal.[93][76]
WAR PROPAGANDA
[edit]
In 2020, SOCAR came under criticism after it publicly engaged in war propaganda
against Armenia on behalf of the Azerbaijani government during the 44-day
Nagorno-Karabakh war between Armenia and Azerbaijan.[94][95][76][91]
SPONSORSHIP
[edit]
Since 2012, SOCAR has sought to avoid U.S. sanctions aimed at Iran, its partner
in a 28 billion dollar Caspian Sea natural gas project. [96][97] SOCAR funded an
all-expenses-paid US-Azerbaijan "energy conference" in Baku for 10 members of
Congress and 32 staff members, which took place on 28 and 29 May 2013. It used
two Houston based non-profit organizations, the Assembly of the Friends of
Azerbaijan (AFAZ) and the Turquoise Council of Americans and Eurasians, both run
by Kemal Oksuz as conduits.[96]
In May 2013, UEFA announced that SOCAR is an Official Sponsor of the 2016 UEFA
European Football Championship final tournament, and acquires rights in
connection with the European Qualifiers, which run from 2014 to 2017, and which
relate to the qualification matches for UEFA Euro 2016 and the 2018 FIFA World
Cup. SOCAR also becomes an Official Sponsor of the 2016 UEFA European Under-17
Football Championship, which will take place in Azerbaijan.[98]
In September 2014, SOCAR signed an agreement to become an Official Partner of
Baku 2015 European Games[99] SOCAR is the sponsor of Association of Football
Federations of Azerbaijan and Azerbaijani football club Neftchi Baku.[100][101]
SOCAR became the title sponsor and official partner for the 2019 Formula 1
Azerbaijan Grand Prix event held in Baku. To date, a one-year sponsorship
agreement had been made.[102]
In 2021, the UEFA quietly terminated its partnership with SOCAR without
informing the public, after criticism of the sponsorship had grown stronger.[91]
On 31 July 2022, SOCAR became the energy & chest sponsor of Turkish giants
Galatasaray in European competition matches for next three seasons, starting
from 2023 to 24 season.[103][104][105][106]
SEE ALSO
[edit]
* Rovnag Abdullayev
* Adnan Ahmadzada
REFERENCES
[edit]
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Retrieved 1 July 2024.
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