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SOCAR Petrofac joint venture registered in Azerbaijan

Staff Writer |
A joint venture of Azerbaijan’s state oil company SOCAR and UK’s Petrofac international service provider to the oil and gas production and processing industry - SOCAR Petrofac passed state registration, the newspaper of Azerbaijan’s Taxes Ministry reported.

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The company’s authorized capital will be 100,000 manat. The official representative of the company is Azerbaijani citizen Ruslan Ibrahimov.

The joint venture’s Supervisory Board includes Fuad Suleymanov, Khalig Mammadov, Karim Osseiran and David Fisher.

The joint venture is expected to render services for more advanced education and training for employees involved in international energy projects on the basis of modern programs.

According to the agreement, SOCAR will own a 51% stake in the new joint venture, while Petrofac – 49% stake.

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