AZERIKIMYA Corporate Strategy

The AZERIKIMYA Corporate Strategy 2035 was approved by the Supervisory Board of AZERIKIMYA in 2021.
The strategy builds on 5 fundamental elements:

• Energy security – Ensuring the energy and chemical production security of Azerbaijan and contributing to regional and international energy security through sustainable oil refining, petrochemical production, and infrastructure.
• Digitalization – Increasing operational effectiveness through digitalization of value chain segments within a single digital transformation framework.
• Sustainability of business – Continually reviewing and optimizing AZERIKIMYA’s portfolio to achieve development in selected areas of existing businesses through innovations and venture capital investments.
• Effectiveness and optimization – Implementing optimization measures throughout the entire value chain and strengthening operational effectiveness using the latest technologies and innovative solutions.
• Energy transition – Contributing to global sustainability through the development of a low-carbon, circular economy and environmentally friendly operations.

Based on these elements, AZERIKIMYA defined strategic visions and goals in key operational areas:

• Upstream (raw material sourcing) – Acceleration of hydrocarbon resource utilization and application of effective operating models.
• Midstream (processing and transport) – Increasing the effectiveness of raw material processing and transportation operations.
• Downstream (chemical production) – Strengthening the integration of refining and chemical industries, operational excellence, and development.
• International business operations (trading and export) – Increasing profitability, optimization, and development.
• Services – Optimization and development of supporting operations.

In addition to these operational goals, AZERIKIMYA identified key strategic directions for long-term sustainable development, referred to as new horizons:

• Digitalization – Increasing efficiency and flexibility through digitalization across local, regional, and international operations.
• Energy transition – Revisiting participation in low-carbon operations (e.g., green energy, biofuels, biopolymers, hydrogen) using AZERIKIMYA’s expertise.
• Innovations and venture capital investments – Promoting innovation within the company, forming systems for employee participation, and exploring venture capital opportunities locally, regionally, and internationally. Supporting the development of the startup ecosystem in Azerbaijan is also a priority.

AZERIKIMYA will also proactively optimize its business portfolio, focus on future market trends, and continue effective use of human resources while fulfilling social employment obligations.
To support successful strategy implementation, AZERIKIMYA will enhance functional excellence in human resources, finance, risk management, health and safety, and corporate social responsibility.