State Oil Company of Azerbaijan (SOCAR) is going to interest famous local businessmen to expand its business operations in Turkey, Kenan Yavuz, head of SOCAR Turkey Enerji, daughter company of SOCAR, said in his interview to Hurriyet newspaper.
He said all three companies have been set up jointly with famous Turkish businessman Ramzi Gyur, which is the owner of Ramsey company. All these companies are independent of each other.
Yavuz added that SOCAR Turkey Gaz Dagitim is a gas distribution company, SOCAR Turkey Petrol Enerji Dagitim is the oil products distribution company, including diesel fuel, gasoline and black oil, and SOCAR Power Enerji Yatirimlari is the power generation company.
Yavuz explained that these companies will be needed after putting of SOCAR’s oil refinery Star into operation in Izmir in 2016. Then the company will have to sell oil products at the Turkish local market. In addition to launching of the Star oil refinery, a big thermal power station with the capacity of 612 MWt will start operation next to it. “Therefore, SOCAR Power Enerji Yatirimlari company will generate power,” said SOCAR’s representative.
Total investments into construction of a thermal power station in Izmir are estimated at $1 billion.
On January 10, 2013 SOCAR Turkey Petrol Enerji Dagitim distribution company obtained a license of the Turkish Energy Market Regulation Department for the period till January 10, 2028.
Speaking with Hurriyet’s correspondent, businessman Ramzi Gur did not confirm his partnership with SOCAR and said that “he invested into the geo-thermal power.”—0—
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