Hikmat Abdullayev: SOCAR to transform from oil and gas company into energy company

The State Oil Company of Azerbaijan (SOCAR) plans to transform in the coming years from a traditional oil and gas company into an energy company, Hikmat Abdullayev, Deputy Vice President of SOCAR, said during a panel discussion within Baku Energy Week.

Report quotes him as saying that SOCAR, as one of the largest energy suppliers in the region, has significant potential to influence the oil and gas sector, especially in the gas segment.

"We want to show that, with political will, the oil and gas industry can be transformed in a relatively short period of time both at company and country level," he said.