SOCAR Group

20 years in business

1993

SOCAR

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President Heydar Aliyev signs decree No.844 establishing the State Oil Company of Azerbaijan Republic, SOCAR.

1993

1994

Contract Of The Century

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Azeri, Chirag and deepwater Guneshli (ACG) production sharing contract is signed by President Heydar Aliyev with a consortium of international oil companies, and ratified by Parliament. Because of the size and success of the project, this is hailed as the Contract of the Century.

1994

1996

The Shah Deniz Contract

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The Shah-Deniz contract is signed between Heydar Aliyev and another international consortium, and ratified by Parliament. This production sharing contract would lead to Azerbaijan’s largest gas discovery.

1996

1997 & 1999

ACG Starts Production

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First oil from ACG field and the creation of export routes for Azeri crude through Novorossiysk in 1997, and later on through Supsa in 1999.

1997 & 1999

2005

Access To The Mediterranean

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After many years of negotiations, planning, as well as $4bn in investment, the new 1m bbl per day Baku-Tbilisi-Ceyhan (BTC) pipeline allows Azerbaijan’s fast increasing oil production to be exported directly into the Mediterranean market.

2005

2006

First Gas From Shah Deniz

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Gas production starts at Shah Deniz phase 1.

2006

2007

SOCAR Trading Created

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Establishment of SOCAR Trading, benefiting SOCAR through optimizing the marketing of its system barrels in the Mediterranean and the global market.

2007

2013

Azeri Gas For Europe

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Selection of the new Trans Adriatic Pipeline (TAP) which will bring 10 bcm per year of Azeri gas from Shah Deniz phase 2 through Greece, Albania and into Italy by late 2018, as SOCAR increases its focus on natural gas.

2013