The Ministry of Taxes of Azerbaijan passed the state registration of LLC SOCAR Invest (tax identification number 1701667631).
In Azerbaijan, since the summer of 2012 the names of the founders of commercial legal entities are confidential. Nevertheless, on the basis of the legal address (Baku, 73 Oilers Avenue), where the head office of the State Oil Company SOCAR is located, one can assume that one (and possibly the only) co-founder is this very company.
The authorized capital of LLC SOCAR Invest has been announced at 10,000 AZN. The Director is Samir Mansour Oglu Gurbanov.
According to the consolidated financial statements for 2013, SOCAR assets are 23 billion 46 million manat (+ 5.4%). The authorized capital of the State Oil Company in 2013 was increased by 230 million manat and brought to 1 billion 315 million manat. In view of the share capital, the capital of SOCAR at the beginning of this year amounted to 10.3 billion manat. The capital of SOCAR in the companies not controlled decreased from 559 million to 513 million manat in 2013. --08B -
Economics
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On September 20, 2024, Volts Energy Ltd., an engineering company based in Abu Dhabi, and Azerbaijan’s Turan Energy LLC announced the creation of a new joint entity, TuranVoltsEnergy. This venture will focus on EPC (Engineering, Procurement, and Construction) projects in renewable energy and energy storage systems within Azerbaijan.
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Azerbaijan’s prolonged border closures, approaching five years, have taken a profound toll on the labor market, particularly in border regions, where cross-border trade and services were once critical economic drivers. Official data highlights the stark disparity between the growing labor force and the lack of new job creation in these areas, underscoring the social and economic challenges faced by residents.
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