The first meeting of the Supervisory Board of the State Oil Company (SOCAR), created by the decree of the President of Azerbaijan dated January 23, 2021, was held
SOCAR reports that the meeting, chaired by Chairman of the Supervisory Board, Minister of Economy Mikayil Jabbarov, was held in a video format and was attended by members of the council, senior officials of the State Oil Company.
Jabbarov stressed that SOCAR is currently entering a new period of development. The Supervisory Board will work to improve the efficiency of the company, improve its management, taking into account modern corporate governance standards.
The Supervisory Board will work in cooperation with the board of the oil company.
The meeting discussed measures to be implemented in order to ensure the fulfillment of the tasks arising from the presidential decree, the principles of the corporate governance system of the company, the organization of the activities of the Supervisory Board, the role of the Azerbaijan Investment Holding in the management of the company and other issues.
Caspian Barrel
