SOCAR seeks new investment area in Turkey

The State Oil Company of Azerbaijan (SOCAR) obtained tender documents for the purchase of an 80-percent stake in Turkey's gas distribution company Baskent Dogalgaz, Reuters reported with the reference to energy sector officials.

SOCAR's interest in Ankara's company is a part of a strategy to increase investments in Turkey. According to the source, the deadline for bidding in the privatisation tender was extended earlier until Jan.27 from Oct. 31, and some 10 companies, including some from Spain, were expected to bid, the sources said.

Turkey aims to complete the sale of Baskent Dogalgaz in the first half of 2012, Privatisation Administration acting head Ahmet Aksu told Reuters in an interview in October.

SOCAR is also actively interested in IGDAS Company (İstanbul Gaz Dağıtım Sanayi ve Ticaret Anonim Şirketi), which owns the gas distribution network of Istanbul. SOCAR can take part in the tender for the privatization of IGDAS and may purchase up to 90 percent of shares of the company.


/Trend/