Authorized capital of SOCAR subsidiary increases sharply

The authorized capital of SOCAR Midstream Operations LLC, owned by the State Oil Company (SOCAR), has been sharply increased.

The capital of the subsidiary increased from AZN 1,000 ($588) to AZN 59,501,000 ($35,000,587), Report informs.

It should be noted that SOCAR Midstream Operations was established in 2014. The company represents the rights and interests of Azerbaijan's strategic shareholder in land export oil and gas pipelines and facilities.