On October 12, 2021 SOCAR Supervisory Board held its following meeting, and SOCAR Strategy until 2035 was approved by the meeting participants. SOCAR's Strategy until 2035, prepared on the standards and requirements of Industry 4.0, pays special attention to the digitization of the production cycle, boosting investment in innovation and venture projects, optimizing human resources. This document provides an opportunity for SOCAR to expand its diversified investment portfolio and increase profitability.
To establish a Coordination Office of SOCAR's Supervisory Board and to appoint Ruslan Alikhanov, a member of the Supervisory Board, as a Director of Coordination Office for improvement Board’s performance and make its activity more effective was decided during the meeting.
Current and other issues on the activity of SOCAR were discussed and appropriate decisions were made in the meeting.
The Supervisory Board was established based on the presidential decree ‘On measures to improve the management of the State Oil Company of Azerbaijan’ dated January 23, 2021.