SOCAR-Owned Firm Set For Reorganization

2025-03-17 07:15:46

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 17. SOCAR Midstream Operations Limited Liability Company (hereinafter SMO) is being reorganized in the form of its separation from SOCAR Midstream Gas Operations Limited Liability Company (hereinafter SMGO), Trend reports via the company.

Per the corporation's disclosure, subsequent to the structural realignment, SMO's charter capital experienced a contraction from 59.5 million manat ($34.9 million) to a nominal 1,000 manat ($588).

Furthermore, the entitlements and responsibilities were allocated to SMGO in alignment with the division equilibrium.

It is pertinent to highlight that the aforementioned entity was incorporated in the year 2014.

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