The following timeline sets out key events relating to SOCAR relevant to this website.


  • SOCAR was formed by Presidential Decree.


  • Azerbaijan joined EITI.


  • Sumato Energy Group was awarded a contract on Azeri Light crude from SOCAR.
  • SOCAR in discussion with a number of trading companies aiming to establish its own trading arm in the format of a joint venture.


  • SOCAR Trading SA joint venture was established under parent company, Supra Holdings Ltd (Malta). Shareholder structure: 50% SOCAR; 25% Renfrel Holdings (Mr Golovushkin); 25% Heritage General Trading FZE (Mr Alizade). Currently, SOCAR Trading SA is a wholly owned subsidiary of SOCAR Trading Holding Limited (formerly Supra Holding Ltd) which is solely owned by SOCAR.


  • SOCAR Petroleum CJSC joint venture established. Shareholder structure: 51% SOCAR; 49% A.P. International (Mr Alizade).


  • SOCAR Trading SA required additional financing. Share ownership was restructured in Supra Holding Ltd: 50% SOCAR; 40% Heritage General Trading (Mr Alizade); 10 % Renfrel Holdings (Mr Golovushkin)
  • On top of additional share capital contribution, Mr Alizade provided SOCAR Trading with an unsecured loan.
  • SOCAR Petroleum initiated operation of petrol stations.
  • UGE-Lancer was awarded a production sharing agreement for the Balakhani oilfield.


  • SOCAR Trading SA repaid Mr Alizade’s 2010 loan in full.
  • SOCAR Trading SA distributed dividends between the shareholders in accordance with their ownership stake. SOCAR Group established SOCAR International DMCC (UAE). Shareholder structure: 50% SOCAR, 50% Petroline DMCC (Mr Alizade).
  • Fujairah storage terminal joint venture established. Shareholder structure: 45% SOCAR International DMCC (22.5% SOCAR and 22.5% Petroline DMCC); 45% Middle East partner; 10% Fujairah Petroleum Company.


  • Phase I of Fujairah Terminal completed.
  • SOCAR bought back all shares in SOCAR Trading SA (through purchase of the shares in Supra Holding Ltd).
  • SOCAR International DMCC distributed dividends to SOCAR and Petroline DMCC. Mr Alizade reinvested 90% of his share of the dividends back into the company.


  • New EITI standard was adopted.
  • SOCAR International DMCC distributed dividends to SOCAR and Petroline DMCC (Mr Alizade). Petroline DMCC also received the remaining 90% of dividends it had reinvested in the company in 2012.
  • SOCAR and Mr Alizade signed a share purchase agreement.  SOCAR bought back all shares in SOCAR International DMCC.
  • Phase II of Fujairah Terminal completed.
  • SOCAR purchased the remaining 49% ownership of SOCAR Petroleum through the acquisition of A.P. International.

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