Zaur Gahramanov: SOCAR Turkey completes year with good indicators

To date, investments of the subsidiary of the State Oil Company of Azerbaijan (SOCAR) – SOCAR Turkey, in Turkey, including the SOCAR Terminal projects, the Petkim petrochemical complex, the STAR oil refinery, and the Trans Anatolian Pipeline (TANAP) have exceeded $16.5 billion, Report informs, citing Director General of SOCAR Turkey Zaur Gahramanov.

As Zaur Gahramanov said at a meeting with representatives of the Azerbaijani media in the company’s office in Istanbul, the company experienced all the difficulties that everyone faced because of the coronavirus pandemic, however, despite this, SOCAR Turkey ends the year with good indicators.

“Along with this, Petkim has achieved record performance this year since it started its activities.”

In his words, investment costs for the projects totaled – for STAR refinery $6.3 billion, SOCAR Depolama $600 million, SOCAR container terminal $400 million, investments for the privatization of Petkim $2.04 billion and an additional $100 million annually, which totaled $1 billion dollars. For the construction of the TANAP gas pipeline, $6.5 billion was invested.