State Oil Company of Azerbaijan Republic - SOCAR has found a subsidiary SOCAR Energy Georgia, which itself has established SOCAR Georgia Petroleum (SGP) with 100% share in it.
SGP entered Georgian oil product market in September 2006.
SGP already has a turnover of several million USD per month and has delivered more than 20000 (twenty thousand) tons of oil products to different buyers. SGP is a very fast-growing company, its employees are highly skilled professionals. Marketing and Economic Operations Department maintains reception and effective sale of oil products inside the country. SGP's strategic development plan includes increasing of turnover of oil products up to 30000 (thirty thousand) tons per month. For this purpose, construction of petroleum storage depots using modern technologies shall begin in the nearest future. SGP will be able to receive and store oil products in its product depots - 10000 (ten thousand) tons of oil in Tbilisi, 5000 (five thousand) tons in Western Georgia, and 5000 (five thousand) tons in Eastern Georgia. Thus, SGP's total storage capacity will be 20000 (twenty thousand) tons of oil products at the company's own petroleum storage depots, which means that Georgian market will be provided with oil products all the time. SOCAR Georgia Petroleum also plans to develop chain of petrol stations covering Tbilisi and regions where high quality oil products will be provided to local consumers. The first station has opened on April 25, 2008.
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