ECONOMY


‘The acquisition of OMV Petrol Ofisi is the most suitable option for SOCAR, but we have alternatives’

Baku, January 23, AZERTAC

“The company will consider two options – creation of a new network of fueling stations or acquisition of a company engaged in the sphere,” said SOCAR Turkey Energy Director General Zaur Gahramanov.

“The acquisition of OMV Petrol Ofisi is the most suitable option for SOCAR, but we have alternatives. We can launch talks on the acquisition of another company or create a new network in Turkey,” he said.

In early 2016 Austrian company announced its intention to sell the whole packet of shares of OMV Petrol Ofisi A.S. to optimize its own costs. The company operates 1,785 refueling station throughout Turkey and owns the country's largest fuel storage and logistics business.

Participants of the tender on the acquisition of OMV assets are SOCAR, Aramco and Petromium-C consortium and Vitol. Within the scope of its strategy, the company is intended to be focused on the extractive enterprises as well as on the oil processing activities.

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