An elite skyscraper for the unprofitable SOCAR

“The new building of SOCAR is a great example of neglect towards your own nation using its wealth”, said chairman Ali Kerimli of the oppositionist Azerbaijani Popular Front Party, on his personal Facebook page.

The opening of the new building of SOCAR

Today, on Monday, the opening of the new administrative building for the State Oil Company of Azerbaijan (SOCAR) took place on Heydar Aliyev Avenue in Baku.

The President of Azerbaijan, Ilham Aliyev, attended the ceremony and cut the ribbon symbolizing the opening of the building, reports Trend News Agency.

The new administrative building of SOCAR is the tallest skyscraper in the capital, the foundation stone of which was laid in 2010 by President Aliyev himself.

The SOCAR skyscraper in facts and figures

The building, designed by South Korean

Heerim Architects & Planners Co. Ltd

, based on the concept of “wind and fire”, was built by Turkish

Tekfen Construction and Installation Co. Inc.


The building is 200 meters high. It has 40 above-ground and 2 underground floors and is located on the territory of 5 hectares. The 34-37


floors of the building are distinguished by their modern architecture and particular beauty and will function as offices of the governance. The 18-33


floors will serve the management and other departments of the main office and the 3-16


floors will house the structural units of the company.

The construction of this building is based on concrete blast walls and a steel composite system. The building could, in theory, sustain a level 9 earthquake and withstand wind-speeds of up to 190 km/h.

In the new administrative building there are 3 conference halls for 233, 110 and 22 people, reports the agency.

Did the building cost 335 million AZN?

According to un-official data, the construction of the skyscraper and refurbishing of the surrounding area cost 335 million AZN, reports Turan.

“SOCAR finished 2015 with a loss of 1 billion”

The State Oil Company of the Republic of Azerbaijan during the past few years retrenched thousands of their employees, and justified their actions by claiming a lack of resources, wrote the chairman of oppositionist Azerbaijani Popular Front Party, Ali Kerilmi on his personal Facebook page:

“They also ended the last financial year with a loss of 1 billion manat. It is also known that they have a foreign debt of 8.2 billion dollars”, quoted the administrator of Meydan TV.

SOCAR sells more expensive fuel to its nation than abroad, invested 200 million euros (and is planning to invest 300 more) to build a resort in Montenegro under very suspicious conditions, is signing a contract on marble panelling for the villa of  its vice-president worth 1.5 million dollars and is committing other corrupt activities, emphasized Kerimli:

“And as a natural result of such recklessness and corruption, SOCAR simply built itself a new building worth 335 million AZN”.

SOCAR denies the critique but does not reveal the price of the building

The press-secretary of SOCAR Nizameddin Guliev stated that they did not spend 335 million AZN on the construction of the building. However, he did not announce the actual cost of it. Guliev also dismissed the critical remarks expressed in the media, reports Radio Azadliq.

“Just like other big oil companies, SOCAR is in need of such an office building. We have more than 25 different structural units in different parts of the city. It is crucial to gather them together in a single building.  Reckless spending was not in play here. The building cost several times less than announced”.

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