SOCAR Supervisory Board discusses “New Operating Model”
17 Jul 2024
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The Supervisory Board of the State Oil Company of the Republic of Azerbaijan (SOCAR) discussed ongoing efforts to improve the company's management structure in a regular meeting on July 17.
Chaired by Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan and Chairman of the SOCAR Supervisory Board, the meeting began with a presentation on the work done, results achieved, and the future steps in the "Extraction and Development" business segment.
A presentation on the current state of the implementation of SOCAR's "New Operating Model" was demonstrated, and the importance of ongoing efforts to improve the company's management structure and develop human capital were also underlined during the meeting.
Another presentation showcased the acquisition of 51% of the shares of Azer-Turk Bank OJSC and the next steps in this process. Other items on the agenda were reviewed as well.
