SOCAR activity in Georgia
Thursday, October 9Azeri state oil company SOCAR is continuing its aggressive marketing policy in Georgia.
Recently its daughter company SOCAR Energy Georgia opened its 17th Georgian petrol station. By the end of this year three more stations will have been opened and by the end of 2009 their number will reach 35. By the end of this year SOCARís share of the Georgian retail petrol market will by around 60%. SOCAR supplies high octane Azeri fuel.
51% of SOCAR Energy Georgia belongs to Azeri shareholders and the rest to Georgians.
Azeri investments in Georgia are already worth over USD 400 million and SOCAR Energy Georgia plans to further increase its investment in the country.