SOCAR establishes new company with about $3 million capital

Azerbaijan’s State Tax Service under the Ministry of Economy has registered CIBC Global LLC, a new commercial entity.

Located at 73 Neftchilar Avenue in Sabayil district, Baku, this address previously housed the head office of the State Oil Company of Azerbaijan (SOCAR) and is currently the site of the Azneft Production Union, Caliber.Az reports per local media.

The newly established company boasts an authorized capital of AZN 5,000,000 ($2.9 million) with Rufat Zeynalabdin Hamzayev serving as its legal representative.