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SOCAR to Invest $17 Billion in Turkey; No Investment Expected in BaThe State Oil Company of Azerbaijan Republic (SOCAR)'s Turkish branch, SOCAR Energy Turkey, will invest $17 billion in Turkish oil and gas projects by 2018, its CEO has said.
Speaking to Turkish reporters, CEO Kenan Yavuz said that the investment, which will included projects such as the Trans-Anatolian pipeline and the South Caucasus Pipeline, also known as the Baku-Tbilisi-Erzurum (BTE) gas pipeline, would be the largest private investment in Turkey's history.
BAKU
The State Oil Company of Azerbaijan (SOCAR) intends to invest about $10 billion in projects in Turkey in the next seven or eight years, the company's vice president has said.
"In view of the Trans-Anatolian Gas Pipeline (TANAP) construction project, the total amount of investments in Turkey may exceed $17 billion," Suleyman Gasimov told Thursday the 19th international conference on Caspian Oil and Gas in Baku, the Azeri capital.
SOCAR to Invest $17 Billion in Turkey; No Investment Expected in BaThe State Oil Company of Azerbaijan Republic (SOCAR)'s Turkish branch, SOCAR Energy Turkey, will invest $17 billion in Turkish oil and gas projects by 2018, its CEO has said.
Speaking to Turkish reporters, CEO Kenan Yavuz said that the investment, which will included projects such as the Trans-Anatolian pipeline and the South Caucasus Pipeline, also known as the Baku-Tbilisi-Erzurum (BTE) gas pipeline, would be the largest private investment in Turkey's history.
Part of the investements is capacity-expansion of Petkim (chemical company and a refiner) which they (SOCAR) bought as part of a JV when it was privatized by Turkish Government some years ago.
Most of the rest of investments are for uilding pipelines.
