SOCAR set to double investment in Romania over next two years

Azerbaijan’s state-run oil corporation SOCAR wants to double its investment in Romania over the next two years and increase the number of its fuel stations by at least 10, SOCAR Deputy Vice-President Vitaliy Baylarbayov told Bucharest Forum Energy 2015 on Friday.

“We intend to increase the volume of our investment in Romania and double it in the next two years. The number of fuel stations will increase by at least 10, depending on customer interest, which is quite high. We are certainly making surveys to see how high the interest is and usually the responses are positive,” said Baylarbayov, according to Agerpres.

He added that SOCAR is very active in Romania.

“We are very proud of having been able to establish a company that has a significant level of operations that employs some 500 people The name of our company can be seen in northern Romania as well as here in the capital city at a petrol station. The number of filling stations is standing at 32, but it will increase this year and the years that follow,” the SOCAR official added.

SOCAR Romania is the local representative of the State Oil Company of Azerbaijan Republic.

The company has been operational in Romania since 2011 via SOCAR Petroleum SA, working to create and consolidate its own-branded filling stations nationwide.


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