Established in 1993, briefly before the Azeri-Chirag-Guneshli (ACG) production sharing agreement was signed by Azerbaijan’s President Heydar Aliyev in 1994, the State Oil Company of Azerbaijan Republic (SOCAR) was envisaged to be an integrated oil and gas company with assets across the entire value chain.

While it has traditionally been an upstream oil and gas focused company, SOCAR now has a considerable presence in transport infrastructure and downstream, both in Azerbaijan and worldwide.