The State Oil Company of the Azerbaijan Republic (SOCAR) is set to join the tender for the sale of Austrian OMV’s Petrol Ofisi. SOCAR Investment Department Head Vagif Aliyev said SOCAR applied to join the tender to purchase OMV’s oil station networks.
SOCAR’s oil refinery, which is being constructed in İzmir’s Aliağa district, will come into operation in 2018. As such, the company needs a dealer network in Turkey to be able to sell fuel.
OMV decided to sell off 100 percent of its shares in its subsidiary Petrol Ofisi in February 2016. According to the announcement made on the official OMV website, it has already started negotiations with consulting firms to help in the process of selling the company. OMV Petrol Ofisi has been carrying out operations in Turkey and has 1,785 gas stations and the company announced that it had a sales volume of 10 million tons in 2015.
Earlier it was reported that the Austrian company OMV was selling its Turkish subsidiary OMV Petrol Ofisi AS, since, as a part of its strategy, it intends to focus on mining companies and integrated activities on oil refining.
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, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, one oil refineries and one gas processing plant, a deep water platform fabrication yard, two trusts, one institution, and 23 subdivisions are operating as corporate entities under SOCAR.
Joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR’s participation, are doing business in different parts of the petroleum industry. SOCAR has representative offices in Georgia, Turkey, Romania, Austria, Switzerland, Kazakhstan, Great Britain, Iran, Germany and Ukraine and trading companies in Switzerland, Singapore, Vietnam, Nigeria, and other countries.