The Ministry of Taxes registered the Azerbaijan-Dutch joint venture SOCAR-Fugro. The parties signed an agreement establishing the joint venture in late December last year.
The registration of LLC SOCAR-Fugro took place on 3 April this year. The Ministry of Taxes (state agency for registration of commercial entities) published the information about it only on May 28 at a special edition of the newspaper Vergiler (Taxes).
SOCAR has 51 % and Fugro has 49% of the equity. The parties contributed to the authorized capital of 100,000 manat. The new company will arrange geotechnical studies in Azerbaijan.
The Director of LLC Azeri Fugro is a British citizen Christopher Allan Mott. The Supervisory Board of the company includes Ilham Nasirov, Mehman Orujaliyev, Mukhtar Guliyev, Hoope Johannes Ten, Michael Leonard Dravitzki and Ralf Trapphoff.
In 1995, these same companies created LLC Azeri Fugro for activities in the Caspian region. SOCAR holds a 60 % stake in this company.
LLC SOCAR Fugro will provide bathymetric, geophysical and geotechnical studies to provide diving services on the territory of Azerbaijan, both on land and at sea.
Today SOCAR is the co-founder of 35 joint ventures and 6 alliances. -08D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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