ECONOMY


SOCAR RESTRUCTURING

The ongoing reforms will promote creation of new managerial mechanism to meet modern standards and raise efficiency of management of the State Oil Company of Azerbaijan Republic, the Company’s official said.In accordance with the presidential Decree ’On improvement of structures of the State Oil Company’, dated 24 January 2003, new structures are being created instead of the abolished old ones, representative of the administrative Department said. In addition, three new structures ‘Science, technique and energy’, ‘Sea transport’, Transport, and social development, was set up at the Company.

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