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SOCAR Refuses to Acquire Assets of German Company in Turkey

The State Oil Company of Azerbaijan (SOCAR) refused to invest in the Turkish assets of the German energy company EWE.

“We decided not to invest in these assets, which, however, does not exclude the fact that we will consider the possibility of acquiring assets in Turkey and in other countries,” SOCAR said.

Note that earlier, Turkish media reported that SOCAR could complete the purchase of EWE Turkish assets in the first quarter of 2019. It was about a stake in four companies – Bursagaz, Kayserigaz, EWE Enerji and Enervis – which belong to EWE Turkey Holding.

EWE previously reported that the decision on the possible sale of its assets in Turkey is related to the optimization of the company’s activities. In Turkey, SOCAR is represented by a subsidiary of SOCAR Turkey Energy, which has so far invested over $ 14.2 billion in the Turkish economy.  

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