SOCAR Turkey Energy joins Oil Industry Association

SOCAR Turkey Energy, a subsidiary of the State Oil Company of Azerbaijan (SOCAR) in Turkey, has become a member of the Oil Industry Association (PETDER), bringing the number of PETDER members to 17, Report informs, citing Turkish media.

The other 16 members are Alpet, Aytemiz, Belgin, BP, Castrol, Exxon Mobil, GO, Guzel Enerji Akaryakit, Opet, Petline, Petrol Ofisi, Petroyag, Shell, Shell & Turcas, Total Energies and Turkish Petroleum.

SOCAR Turkey Energy launched its operations after acquiring 51% shares in PETKIM in 2008. Leading companies, such as Petkim RES, Bursagaz, Kayserigaz, Enervis, SOCAR Enerji Ticaret, Millenicom, SOCAR Ticaret and SOCAR Sakhlama operate under the subsidiary company with a final value of USD 19.5 billion.

The main investment sectors of SOCAR Turkey are petroleum and chemical products and their trade, as well as processing, purchase and sale of natural gas. It is the first company that has obtained Special Industrial Zone brand name for the Aliaga operations area, where it mainly invests.