President Ilham Aliyev has signed a decree amending the composition of the Supervisory Board of the State Oil Company of the Republic of Azerbaijan (SOCAR), originally established by the decree dated January 23, 2021.
According to the Operative Information Center-OMM, the new order stipulates that Azer Bayramov, the former Deputy Minister of Finance, has been replaced on the board by Anar Karimov, the First Deputy Minister of Finance.
The Supervisory Board of SOCAR was established to ensure modern management standards and transparency within the state-owned energy giant. SOCAR plays a pivotal role in Azerbaijan's economy, overseeing the exploration, production, and distribution of oil and gas resources both domestically and internationally. These administrative adjustments are part of ongoing efforts to align the company's governance with the strategic economic objectives of the Republic of Azerbaijan.
