The 28th International Caspian Oil and Gas Exhibition took place in Baku
At the exhibition, SOCAR Türkiye shared the story of its 15-year journey in Türkiye.
Being a part of the 28th International Caspian Oil and Gas Exhibition within the scope of Baku Energy Week 2023, SOCAR Türkiye provided insight to both government officials and fair attendees regarding the endeavors undertaken over its 15-year tenure in Türkiye.
Being Türkiye's foremost integrated industrial holding and the primary direct foreign investor, SOCAR Türkiye shared details regarding its investments undertaken since its inception in 2008 during the International Caspian Oil & Gas Exhibition. This exhibition, supported by the State Oil Company of the Azerbaijan Republic (SOCAR) as its main sponsor, marks its 28th edition and occurs at the Baku Expo Center from May 31st to June 2nd, 2023.
Participating in the inaugural day of the event, President Ilham Aliyev from the Republic of Azerbaijan also visited the SOCAR Türkiye exhibition booth, where he was briefed on the accomplished 15-year activities in Türkiye.
Having made its entry into the Turkish market by acquiring a 51% stake in Petkim in 2008, SOCAR's investments over the last 15 years have reached a cumulative value of $18.2 billion. Within Türkiye, SOCAR possesses significant group entities including STAR Refinery, SOCAR Storage, SOCAR Terminal, Bursagaz, and Kayserigaz, spanning the petrochemical, refinery, and natural gas domains. Furthermore, SOCAR plays a pivotal role as a major partner in TANAP, an integral part of the Southern Gas Corridor facilitating the transportation of natural gas from Türkiye to Europe, alongside its other notable achievements.
Elchin Ibadov, acting CEO of SOCAR Türkiye, who attended exhibition, expressed, 'We take pride in being Türkiye's foremost direct foreign investor and premier integrated industrial holding, as our accomplishment of vital strategic projects in just 15 years, along with the value we've contributed to our nation, showcases our achievement. In addition to marking our 15th year, 2023 also holds significant historical relevance for both countries. This year, we are celebrating the 100th anniversary of the birth of the founder of modern Azerbaijan and our National Leader, Heydar Aliyev. Simultaneously, we are commemorating the 100th anniversary of the Republic of Türkiye, a unique country not only due to its geographical location but also its wealth, people, history, and nature. SOCAR Türkiye sees itself as a symbol of the brotherhood and friendship that the Great Leader Heydar Aliyev pointed out, and we will continue to work and produce for the strategic shared goals and economic development of both countries.'