The state oil company of Azerbaijan Republic

Upstream

As the Republic State Oil Company set up by Presidential Decree, SOCAR is responsible for all oil and gas activities on the part of the Government of Azerbaijan.

 

In upstream, SOCAR fulfils two main roles: not only does it invest, execute and operate upstream operations as the State Oil Company, but it also manages and markets the State share of the oil proceeds on the part of the Republic of Azerbaijan.

 

Thus, SOCAR owns varying participations in Azerbaijan’s oil fields and projects, has a range of upstream departments to conduct geology & geophysics, engineering, construction and hydrocarbons production, and exports some 70-80% of Azerbaijan’s crude oil.

ACG shareholders

SOCAR owns 10% in AIOC, the BP-led the consortium operating the Azeri, Chirag and Guneshli Deepwater fields