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SOCAR increases storage capacity of the STAR refinery

TOTAL CAPACITY TO REACH 2.5 MILLION CUBIC METERS

SOCAR Turkey held a ceremony for two new facilities in Special Industrial Zone of Aliaga. While inaugurating one of the facilities that will increase the STAR Refinery’s storage capacity for crude oil and finished products, it laid foundation of another one.



STAR Refinery, the SOCAR Turkey’s subsidiary with 10 million tons of oil refining capacity a year, continues new investments for increasing its storage capacity. While SOCAR Storage Terminal Tank Expansion Project - one of the projects carried out in this framework – was inaugurated, the foundation of STAR Refinery Crude Oil and Oil Product Tanks Project was laid. Rovnag Abdullayev, President of SOCAR, Vagif Aliyev, Chair of the Board of SOCAR Turkey, Zaur Gahramanov, CEO of SOCAR Turkey, Mesut Ilter, General Director of STAR Refinery, Anar Mammadov, General Director of Petkim, and executives of the project contractors attended the ceremony.

With the new investments, the storage capacity used by SOCAR Turkey and its customers will reach to 2.5 million cubic meters.

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ACG celebrates 25th year of its journey to success

The Azeri-Chirag-Gunashli (ACG) partnership today celebrated the 25th anniversary of the ACG production sharing agreement, signed on 20 September 1994 between the Government of Azerbaijan and eleven international companies representing eight countries.
This contract, which later became known as the “Contract of the Century”, was extended in September 2017 until the end of 2049.

SOCAR president Rovnag Abdullayev said: “Today we celebrate the 25th anniversary of the PSA on the Azeri, Chirag and Deepwater Gunashli fields, known as the “Contract of the Century”. This contract has played a unique role in the history of independent Azerbaijan. Although shorter than a moment from historical perspective, these 25 years passed in the atmosphere of strenuous day-to-day work. Looking back at this track of success and the magnificence of the projects we’ve accomplished, we’re filled with a sense of pride.

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Drilling, production and export rates for the second quarter of 2019

In the second quarter of 2019, SOCAR produced 1,9 million tons1 of oil and 1,7 billion cubic meters2 of gas on its own and managed to maintain the production level relatively stable compared to the same period of the previous year.


The company continued to implement a series of comprehensive measures to keep production level stable in the oil and gas fields exploited by itself. The operation of some out-of-exploitation wells has been resumed and drilling of new wells has increased the overall drilling capacity compared to the same period of last year. Thus, in the second quarter of 2019, the company performed more than 41,000 meters3 of drilling work.

SOCAR exported 4.9 million tons4 of crude oil, including profit oil of ACG, 172 million cubic meters5 of natural gas, 604 thousand tons6 of oil and petrochemical products. During the period there was a decline in the export of crude oil from SOCAR, but 48 percent growth in the export of oil and petrochemical products was recorded. It shows that one of the factors that led to a decline in crude oil and gas exports was the direction of more products to the processing.

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TANAP is fully ready to deliver natural gas to Europe from July 1

TANAP - major section of Southern Gas Corridor completed

The Trans Anatolian Natural Gas Pipeline (TANAP), the major segment of the Southern Gas Corridor is ready to supply Azerbaijani gas directly to Europe from July 1, 2019. After completion of the Trans Adriatic Pipeline (TAP), the last section of SGC, the natural gas produced from Azerbaijan’s Shah Deniz 2 field will be delivered to Europe via TANAP and TAP, adding to the country’s income and making an important contribution to the European energy security. TANAP is now the longest and widest natural gas pipeline in Turkey, Middle East and Europe.
The Trans Anatolian Natural Gas Pipeline, one of the most important projects of long-term strategic energy cooperation between Turkey and Azerbaijan, is complete. The 1850-km pipeline begins in the Turkish Posof district of Ardahan, runs through 20 provinces, 67 districts and 600 villages and reaches Europe at the Greek border in the Ipsala district of Edirne, is ready to deliver the first natural gas to Europe via Trans Adriatic Pipeline (TAP) on the border of Turkey and Greece from July 1, 2019.

TANAP is the most important link of the Southern Gas Corridor, designed to transport natural gas produced from Azerbaijan’s Shah Deniz-2 field initially to Turkey and onwards to Europe. The section of pipeline from the Turkish border with Georgia until Eskişehir of Turkey was launched in an international opening ceremony on June 12, 2018 with the flow of commercial gas to Turkey from June 30, 2018. The final mechanical work in the pipeline between Eskişehir and the Turkish-Greek border was completed at the end of 2018 with the first test pumping held in April 2019.

TANAP, which is now fully ready to transport natural gas to Europe, is the longest and widest natural gas pipeline in Turkey, Middle East and Europe. Next year, after the completion of TAP which connects with TANAP on the Turkish-Greek border, Azerbaijan will start delivering gas to European markets.

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The State Oil Company of Azerbaijan… at a glance

Discover SOCAR

The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate.

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International ratings

When investors and credit organizations wish to cooperate with any company, first of all the international rating of the company in discussion is reviewed.

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