SOCAR ENERGORESOURCE LLC is a Russian oil company founded in May 2019. In June 2019, the Company acquired an equity interest in Antipinsky Refinery and its oil producing subsidiary, Noviy Potok Oil Company LLC. The Company is a joint venture, with Sberbank of Russia as a shareholder and strategic partner. The other shareholder SOCAR, provides institutional expertise and operational support for the project.
SOCAR ENERGORESOURCE Group has the following key short-term goals:
- Ensure a continuous production cycle
- Retain the existing workforce
- Maintain production equipment in working order
- Ensure stable tax payments to the federal and regional budgets
- Engage in social projects
As a result of the timely and professional intervention of SOCAR ENERGORESOURCE, the Refinery was able to resume production in July 2019.