Azerbaijan’s state oil company SOCAR has sold its stake in Shah Deniz and the South Caucasus Pipeline.
SOCAR has sold its 14.35 percent stake in Shah Deniz Production Sharing Agreement to Southern Gas Corridor Upstream LLC.
Furthermore, the company has also transferred 14.35-percent shares in the South Caucasus Pipeline to Southern Gas Corridor Midstream LLC.
SOCAR is involved in the exploration of oil and gas fields, as well as the production, processing, and transportation of oil, gas, and gas condensate. They actively sell oil and petrochemicals in both domestic and international markets. Additionally, SOCAR supplies natural gas to industrial enterprises and the population of Azerbaijan, as well as European countries.
The company carries out diverse operations across multiple countries, including Türkiye, Georgia, Romania, Switzerland, Germany, and Ukraine. These activities encompass trading endeavors primarily conducted in Switzerland, Singapore, and Nigeria, Trend reports.
