The following timeline sets out key events relating to SOCAR relevant to this website.
1992
- SOCAR was formed by Presidential Decree.
2003
- Azerbaijan joined EITI.
2006
- 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.
2007
- 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.
2008
- SOCAR Petroleum CJSC joint venture established. Shareholder structure: 51% SOCAR; 49% A.P. International (Mr Alizade).
2010
- 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.
2011
- 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.
2012
- 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.
2013
- 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.