Turcas Petrol had previously announced the sale of 13.5 percent of its share earlier to Refinery Holding A.S.
SOCAR's share in the
The state-owned oil and natural gas company had previously acquired Petkim, the leading Turkish petrochemical company, in 2008 becoming a prominent player in the petrochemical sector.
In 2011 SOCAR and Turcas Petrol started the construction of a big refinery complex in Izmir on Turkey's Aegean coast. The project, with a fixed capital investment of $4.2 billion, aims to relieve Turkey's petrochemical sector of its dependence on energy imports of petroleum products.