Last year, the total value of SOCAR Türkiye's assets reached 692 billion Turkish liras (approximately $13.79 billion), Elchin Ibadov, Chief Executive Officer of SOCAR Türkiye Enerji, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), said.
According to Report, he said the company's investment expenditure amounted to approximately $19 billion in 2025.
"These figures clearly demonstrate that we remain committed to our investment obligations even under challenging macroeconomic conditions," he said.
Ibadov stressed that the reporting period was a challenging one for the energy and petrochemical industries.
"Excess supply in oil markets intensified downward pressure on prices, while capacity expansion in Asia pushed petrochemical margins below historical averages. High natural gas prices constrained demand growth. At the same time, currency fluctuations and persistent geopolitical uncertainty put additional pressure on operating costs.
"Despite all these factors, SOCAR Türkiye continued to create value through operational resilience, strategic flexibility and a strong internal culture of efficiency," he said.
According to Ibadov, the completion of the acquisition of the Central Anatolia Combined Cycle Natural Gas Power Plant (İÇAN) was an important strategic step towards new investments.
"This investment marked a significant step in implementing SOCAR's strategy of generating electricity from natural gas, enabled us to integrate our energy supply and generation operations, and expand our value chain," he noted.
Ibadov added that SOCAR had strengthened its position in the aviation sector by acquiring a 25% stake in TFS Akaryakıt Hizmetleri, the exclusive aviation fuel supplier at Istanbul Airport.
"Last year, SOCAR Terminal, a group company, signed a strategic partnership agreement with Mediterranean Shipping Company (MSC), one of the world's leading container shipping companies. Under this partnership, we will make joint investments in SOCAR Terminal, the largest container port in the Aegean Sea, further strengthening Türkiye's role in the global supply chain," he said.
SOCAR Türkiye, established in late 2006, operates in Türkiye's oil refining, petrochemicals and natural gas trading sectors. The company owns a 51% stake in Petkim Petrokimya Holding and has built the STAR refinery, a container terminal and a power plant. It also supplies natural gas to the domestic market and provides aviation fuel at airports in several major Turkish cities.