Baku: The State Oil Company of the Republic of Azerbaijan (SOCAR) has announced its strategic objective to transform into a national energy company within the next decade. This was revealed by Teymur Guliyev, Deputy Vice President of SOCAR, during a public discussion on “Energy Efficiency: Results and Expectations,” organized by the Parliamentary Committee on Natural Resources, Energy, and Ecology.

According to Azeri-Press News Agency, Teymur Guliyev highlighted that SOCAR is currently recognized predominantly as a traditional oil and gas company. He stated, “However, over the next 10 years, our goal for SOCAR is to become a large national energy company, and by 2050, we aim to be a global energy company contributing to energy security and climate resilience. Our targets are not only set for 2050 – we also have medium-term goals.”