The decree on improving the structure of the State Oil Company (SOCAR) has been amended

News | 05.08.2021

According to the Decree signed by the President of the Republic of Azerbaijan Ilham Aliyev "On Amendments to the Decree" On Improving the Structure of the State Oil Company of the Republic of Azerbaijan ", the structure of the Company will be approved by the Azerbaijan Investment Holding (AIH).

Earlier, the Company's Charter, amendments and additions to the Charter, and its structure were approved by the President of the Republic of Azerbaijan.

At the same time, decisions on the establishment, reorganization and liquidation of entities included in the structure of the company, as well as subsidiaries and affiliates will be made by the Supervisory Board of the Company.

Decisions on entrusting the implementation of certain types of activities by the Company in whole or in part to the bodies included in its structure will be made by the Supervisory Board of the Company.