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.