NEQSOL Holding

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NEQSOL Holding is an international group of companies active in energy, telecommunications, construction, and high-tech founded by Azerbaijani Nasib Hasanov. [1] [2] Initially focused on the oil and gas sector, the holding has expanded into other areas and now includes entities such as Vodafone Ukraine, Bakcell  [ az ], Caucasus Online, Nobel Oil Group, Nobel Upstream, and Norm Cement. [3]

Contents

Industries

Oil and gas

NEQSOL Holding's oil and gas activity is concentrated within two companies registered in the UK: Nobel Oil E&P (known as Nobel Upstream) [4] and Nobel Oil Services (now Nobel Energy). [5]

The latter decided to change its name to Nobel Energy in the framework of a rebranding in December 2021. [6] [7] The Nobel Oil Group is a corporate group operating primarily in Azerbaijan, in the US, and in the UK. The company provides integrated operating services in the oil and gas sector. This group was founded by Nasib Hasanov in 2005, and later became Nobel Upstream and Nobel Oil Services in 2014. [8]

Construction

The company owns Norm Cement, a construction-based company launched in 2006. Norm is the largest cement producer in the South Caucasus region. [9]

Telecommunications

NEQSOL Holding acquired Bakcell in 2005. The company provides telecommunication (voice and mobile internet) services. It had around 2 million customers in 2010. [10]

Vodafone Ukraine (formerly MTS Ukraine) is one of the holding's main subsidiaries. It is the second-largest mobile operator in Ukraine with around 20 million users. [11] In October 2015 Mobile TeleSystems and Vodafone expanded their 2008 strategic partnership; this resulted in the rebranding of MTS Ukraine to Vodafone Ukraine. [12] In 2019, NEQSOL Holding acquired 100% of Vodafone Ukraine. [13] [14] [15]

This acquisition of Vodafone Ukraine was made through Backcell. It was previously owned by MTS belonging to Vladimir Yevtushenkov. [16] Vodafone Ukraine keeps working under the British Vodafone brand. [17]

In September 2021, NEQSOL appointed Vasyl Latsanych as its Head of Telecom Department and in 2023 as chairman of Vodafone Ukraine Board. [18] [19]

Since the beginning of the War in Ukraine in February 2022, Vodafone Ukraine experienced a decrease in the net value of assets and significant costs related to the military conflict in Ukraine. [20] [21]

Vodafone Ukraine declared that rebuilding all the telecommunications infrastructures damaged during the war will cost more than 50 million dollars to the company (as of May 2022), [22] and a decrease in the number of its clients. [23] [24]

In 2019, Nasib Hasanov purchased 49% of Caucasus Online. In 2021, NEQSOL Holding purchased the remaining 51% of Caucasus Online from former owner Khvicha Makatsaria. [25] The Georgian National Communication Commission (GNCC) tried to oppose the transaction but the arbitration tribunal dismissed [26] the Georgian authorities’ request and allowed the acquisition by NEQSOL Holding. [27]

Caucasus Online was established in 2006 through the merging of three main Internet Service Providers (ISP): Caucasus Network, Georgia Online and Sanet. Telenet merged with Caucasus Online in 2008. [28] Caucasus Online owns 1.200 km of fiber cable across the Black Sea (the Caucasus Cable System). [29]

Digital Silk Way

The Digital Silk Way is a project aiming at connecting Europe and Asia through a telecommunications corridor. [30] It was initiated in 2018 and is being implemented by AzerTelecom, one of the holding's subsidiaries. [31]

In 2020, the Digital Silk Way project was selected as one of Asia's top five infrastructure projects by the Global Strategic Infrastructure Leadership Forum held in the US. [32]

The digital infrastructure project was presented at the Dubai Expo organized in the UAE in 2022 at the Azerbaijan Pavillon. [33]

In 2023, in the framework of the Digital Silk Way project, AzerTelecom and Kazakhtelecom signed an agreement [34] to link both sides of the Caspian Sea through a subsea cable from Azerbaijan to Kazakhstan. [35]

Humanitarian commitments

COVID-19 crisis in 2020

NEQSOL Holding has donated 1 million dollars in 2020 to fight against the spread of COVID-19 pandemic in Ukraine. The funds allocated were used to purchase medical equipment and systems needed by hospitals. [36]

Conflict in Eastern-Ukraine in 2020

In 2020, Vodafone Ukraine and the UNHCR provided free access to mobile communications to the most vulnerable populations in Eastern Ukraine: provided a connection to 2,489 conflict-affected persons. [37]

War in Ukraine in 2022

Together with 2 other mobile operators (Kyivstar of Veon and Lifecell of Turkcell), Vodafone Ukraine provided for free national roaming. [38] In addition, Vodafone Ukraine kept soldiers and civilians connected despite damages on the telecommunications infrastructures. [39]

At the beginning of the war, NEQSOL Holding and subsidiaries Norm and Bakcell participated in the help for repatriating Azerbaijani citizens from Ukraine. [40] They provided Azerbaijani citizens free flights from Ukraine, and helped to organize train evacuation. [41]

Turkyie-Syria Earthquake in 2023

Bakcell, one of NEQSOL Holding's subsidiaries, has sent equipment to Turkish civilians after the earthquake to help them stay in contact with their families despite the destruction caused by the natural catastrophe. The help includes 13 special installations (cost of 500.000 manats) dedicated to the most damaged areas. [42]

Azerconnect, one of NEQSOL Holding's subsidiaries, has donated 5 million Turkish Liras to the Agency for Natural Disasters and Emergency Situations (AFAD) of the Ministry of Internal Affairs of Turkey to support civilians, and victims of the earthquake in Turkey. [43]

Related Research Articles

<span class="mw-page-title-main">Economy of Azerbaijan</span>

The economy of Azerbaijan is highly dependent on oil and gas exports, in particular since the completion of the Baku-Tbilisi-Ceyhan Pipeline. The transition to oil production in the late 1990s led to rapid economic growth over the period 1995–2014. Since 2014, GDP growth has slowed down substantially.

<span class="mw-page-title-main">Vodafone</span> British multinational telecommunications company

Vodafone Group Plc is a British multinational telecommunications company. Its registered office and global headquarters are in Newbury, Berkshire, England. It predominantly operates services in Asia, Africa, Europe, and Oceania.

<span class="mw-page-title-main">Swisscom</span> Swiss telecommunication company

Swisscom AG is a major telecommunications provider in Switzerland. Its headquarters are located in Worblaufen near Bern. The Swiss government owns 51 percent of Swisscom AG. According to its own published data, Swisscom holds a market share of 56% for mobile, 50% for broadband and 37% for TV telecommunication in Switzerland. Its Italian subsidiary Fastweb is attributed 16% of private clients and 29% of corporate clients share of Italian broadband and is also active in the mobile market.

Turkcell İletişim Hizmetleri A.Ş. is the leading mobile phone operator of Turkey, based in Istanbul. The company has 39,3 million subscribers as of September 2021. In 2015, the company's number of subscribers climbed to 68.9 million, in nine countries Largest shareholder is Turkey Wealth Fund with 26.2% ownership. It is one of the world's biggest companies list published by Fortune. Turkcell has also developed Yaani, a browser for mobile and desktop. Turkcell's general manager is Ali Taha Koç.

Vodafone Ukraine is the second-largest mobile operator in Ukraine with 23.1 million users and thus a 38 percent market share. In November 2009 it had 17.74 million GSM subscribers. The company is fully owned by NEQSOL Holding. In October 2015 Mobile TeleSystems and Vodafone expanded their 2008 strategic partnership; this resulted in the rebranding of MTS Ukraine to Vodafone Ukraine.

The State Oil Company of the Republic of Azerbaijan, largely known by its abbreviation SOCAR, is a fully state-owned national oil and gas company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani segment of the Caspian Sea. It operates the country's only oil refinery, one gas processing plant and runs several oil and gas export pipelines throughout the country. It owns fuel filling station networks under the SOCAR brand in Azerbaijan, Turkey, Georgia, Ukraine, Romania, Switzerland, and Austria.

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<span class="mw-page-title-main">Nobel Energy</span> UK based oil corporation

Nobel Energy is a group of companies concentrated in the energy industry providing integrated engineering, construction, procurement and supply chain management, and drilling services. Nobel Energy is a part of NEQSOL Holding, an international group of companies, acting in energy, telecommunications, high-technology, and construction industries in the UK, the USA, Turkey, Azerbaijan, Ukraine, Georgia, Kazakhstan, and the UAE.

<span class="mw-page-title-main">Caucasus Cable System</span>

The Caucasus Cable System is a Georgian-owned submarine communications cable in the Black Sea linking Poti, Georgia to Balchik, Bulgaria over a distance of 1,182 km. Its landing station in Balchik is connected to Frankfurt, Germany and other European Internet hubs via terrestrial connection. As the only communications cable linking Georgia directly to Europe, the Caucasus Cable System is deemed of geostrategic importance and has been at the center of controversy due to alleged plans to sell it to a Russian-owned company. As of January 2017 the cable is still in sole ownership of Caucasus Online.

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References

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