SOCAR Turkey CEO Ibadov: "We Became Turkey's Largest Foreign Investor with $18.5 Billion in 17 Years"

SOCAR Turkey CEO Elchin Ibadov stated that the State Oil Company of Azerbaijan Republic (SOCAR) has become the largest foreign investor in Turkey by investing a total of $18.5 billion over the last 17 years. Speaking at a press conference held in Istanbul for SOCAR Turkey and its group companies, Ibadov emphasized that SOCAR has contributed to reducing Turkey's current energy sector gap. He noted that SOCAR Turkey Energy's total investment in the gas sector in Turkey has reached $209 million. The SOCAR CEO mentioned, "We are currently conducting natural gas operations in Kayseri and Bursa. Our total investment in Kayserigaz and Bursagaz distribution networks has reached $209 million." Ibadov stated that Bursagaz's distribution network has reached 7,703 kilometers, while Kayserigaz's network has reached 7,118 kilometers, with Bursagaz having 1.2 million subscribers and Kayserigaz having 700,000 subscribers. He added, "More than 10,000 people are employed within SOCAR Turkey. This makes a significant contribution to employment in Turkey."