Authorized capital of SOCAR subsidiary rises sharply

The authorized capital of SOCAR Midstream Operations LLC, owned by the State Oil Company of Azerbaijan (SOCAR), has sharply increased, Report informs.

The capital of the subsidiary has soared from 1,000 manats ($588) to 59,501,000 manats ($35 million).

SOCAR Midstream Operations was established in 2014. The company represents the rights and interests of Azerbaijan's strategic shareholder in onshore oil and gas export pipelines and facilities.