State Oil Company of Azerbaijan (SOCAR) completed necessary procedures and became a minority shareholder of the SOCAR Energoresurs Group in Russia. SOCAR Energoresurs Group unites Antipinsky Refinery and three oil fields with 45 million tons of proven oil reserves in Orenburg Oblast, Russia.

SOCAR’s main role in this project is to provide managerial expertise to Antipinsky Refinery. Given the structure of the agreement, SOCAR’s participation in the Antipinsky Refinery does not create risks for SOCAR related to the refinery’s previous debts.

Antipinsky Refinery has annual production capacity of 7.5 million tons. It produces diesel, vacuum gasoil, naphtha, gasoline (A80 and A92), coke, technical sulfur, process oil and liquefied gas.

About SOCAR

SOCAR is one of the leading international energy companies. In order to ensure the economic interests of the Azerbaijani people, SOCAR is a major operator and participant in a number of transnational projects across the country and abroad. The company is active in all the oil and gas industry value chains. Exploration of oil and gas fields, production, processing and transportation of oil, gas and gas condensate constitute the main part of the operations of SOCAR. SOCAR also exports natural gas, oil and petrochemical products to the country's market, as well as international markets. The company's goal is to become a vertical integrated international energy company with advanced experience in the field of effective operation, social and environmental responsibility. As an important EU energy supplier, SOCAR plays a special role in the sustainable economic development of Europe.