NEQSOL Holding

Last updated

NEQSOL
NEQSOL Holding
FounderAzerbaijani Nasib Hasanov
TypeEnergy, Telecommunications, Construction
Subsidiaries Vodafone Ukraine, Nobel Energy, Bakcell LLC
Website www.neqsolholding.com

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

Bakcell

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

Vodafone Ukraine (originally UMC Ukraine, and later 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 (MTS) 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 Russian invasion of 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]

Caucasus Online

In 2019, Nasib Hasanov purchased 49% of the Caucasus Online. In 2021, NEQSOL Holding purchased the remaining 51% of the 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 the 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]

Turkey-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">Telecommunications in Russia</span>

The telecommunications in Russia has undergone significant changes since the 1980s, radio was a major new technology in the 1920s, when the Communists had recently come to power. Soviet authorities realized that the "ham" operator was highly individualistic and encouraged private initiative – too much so for the totalitarian regime. Criminal penalties were imposed but the working solution was to avoid broadcasting over the air. Instead radio programs were transmitted by copper wire, using a hub and spoke system, to loudspeakers in approved listening stations, such as the "Red" corner of a factory. This resulted in thousands of companies licensed to offer communication services today. Due to the enormous size of the country Russia today, the country leads in the number of TV broadcast stations and repeaters. The foundation for liberalization of broadcasting was laid by the decree signed by the President of the USSR in 1990. Telecommunication is mainly regulated through the Federal Law "On Communications" and the Federal Law "On Mass Media"

<span class="mw-page-title-main">Telecommunications in Azerbaijan</span>

Telecommunications in Azerbaijan provides information about television, radio, fixed and mobile telephones, and the Internet in Azerbaijan. The Azerbaijan economy has been markedly stronger recently and, not surprisingly, the country has been making progress in developing ICT sector. Nonetheless, it still faces problems. These include poor infrastructure and an immature telecom regulatory regime. The Ministry of Communications and Information Technologies of Azerbaijan (MCIT), as well as being an operator through its role in Aztelekom, is both a policy-maker and regulator.

<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">MTS (telecommunications)</span> Russian mobile network operator

Mobile TeleSystems (MTS) is the largest mobile network operator in Russia, headquartered in Moscow, operating on GSM, UMTS and LTE standards. Apart from cellular network, the company also offers local telephone service, broadband, mobile television, cable television, satellite television and digital television.

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. The 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.

<span class="mw-page-title-main">Vodafone Ukraine</span> Ukrainian telecommunications company

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 (MTS) 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.

<span class="mw-page-title-main">Millicom</span> Telecommunications and media company

Millicom International Cellular SA is a Luxembourgish fixed line and mobile telecommunications services provider operating in Latin America operating under the Tigo brand. Its main shareholder is Xavier Niel, a French billionaire who owns 40% of the company.

Azercell is an Azerbaijani telecommunications company based in Baku. It is the largest mobile network operator in Azerbaijan. The company is owned by the ruling Aliyev family through offshore companies. In 2008, state shares were transferred to the Aliyev family's companies at a massive discount, effectively costing Azerbaijan's people at least $600 million.

Internet in Azerbaijan is vulnerable to government monitoring and censorship. The ruling Aliyev family owns two of the three largest mobile operators in Azerbaijan. The ownership of the third large mobile operator is unknown, as it registered to an offshore company. The authoritarian regime in Azerbaijan has a history of blocking websites that criticize the government.

<span class="mw-page-title-main">Ministry of Digital Development and Transportation (Azerbaijan)</span> Government ministry of Azerbaijan

The Ministry of Digital Development and Transportation is a central executive body implementing state policy and regulation in the areas of transport, including maritime transport and civil aviation, communications, high technologies.

Umid gas field is the second largest natural gas field in Azerbaijan. It is situated in the South Caspian Sea, off the coast of Azerbaijan, approximately 75 kilometres (47 mi) southeast of Baku, at a depth of 170 metres (560 ft). In translation from Azerbaijani, Umid means Hope.

<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.

The overall investment climate in Azerbaijan continues to grow despite significant challenges remain. Over the recent years, the country has made efforts to integrate more fully into the global marketplace and attract foreign investment.

The Mobile phone industry in Ukraine started in 1993 in analog, and its digital industry showed rapid growth, although there have been ups and downs.

<span class="mw-page-title-main">Zaur Hasanov</span>

Zaur Hasanov is an Azerbaijani public servant, writer, and documentary filmmaker.

Nasib Piriyev is an Azerbaijani entrepreneur and philanthropist.

References

  1. ↑ "⚡NEQSOL Holding Wins Brandon Hall Group Excellence Award". LatestLY. Retrieved 8 March 2023.
  2. ↑ Stanly, John (23 September 2021). "This Diversified Company Has Grown Through Innovations". Entrepreneur. Retrieved 8 March 2023.
  3. ↑ "Officially: Azerbaijani company Bakcell acquires Vodafone Ukraine for $734 million". AIN.Capital. Retrieved 8 March 2023.
  4. ↑ "NOBEL OIL E&P (UK) LIMITED overview – Find and update company information – GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 8 March 2023.
  5. ↑ "NOBEL ENERGY LIMITED overview – Find and update company information – GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 8 March 2023.
  6. ↑ "Nobel Oil Announces Major Rebrand". Trend.Az. 3 December 2021. Retrieved 8 March 2023.
  7. ↑ "У Nobel Oil ребрендинг в Nobel Energy". neftegaz.ru (in Russian). 2 December 2021. Retrieved 15 May 2023.
  8. ↑ Stanly, John (23 September 2021). "This Diversified Company Has Grown Through Innovations". Entrepreneur. Retrieved 23 March 2023.
  9. ↑ "Norm Cement organizes first International Concrete Conference in Azerbaijan (PHOTO)". Trend.Az. 2 July 2019. Retrieved 8 March 2023.
  10. ↑ "Bakcell customers top 2 million, CEO says". Azernews.Az. 24 September 2010. Retrieved 9 January 2025.
  11. ↑ "Communication in Times of Crisis: Story of Vodafone Ukraine". Infopulse. Retrieved 8 March 2023.
  12. ↑ "Vodafone купил телеком-активы донбасского магната". CNews.ru (in Russian). Retrieved 15 May 2023.
  13. ↑ "NEQSOL Holding объявила о подписании соглашения о приобретении Vodafone Украина за $734 млн". ITC.ua. Retrieved 8 March 2023.
  14. ↑ Wiel, Ken; 2022-09-01T16:05:00. "Vodafone Ukraine counts cost of war". TelcoTitans.com. Retrieved 8 March 2023.{{cite web}}: CS1 maint: numeric names: authors list (link)
  15. ↑ "Компания NEQSOL Holding, контролирующая азербайджанского оператора Bakcell, окончательно купила "Vodafone Украина"". gordonua.com. Retrieved 15 May 2023.
  16. ↑ "Officially: Azerbaijani company Bakcell acquires Vodafone Ukraine for $734 million". AIN.Capital. Retrieved 8 March 2023.
  17. ↑ Query, Alexander (25 November 2019). "Azerbaijan holding to buy Vodafone Ukraine for $734 million – Nov. 25, 2019". Kyiv Post. Retrieved 8 March 2023.
  18. ↑ "Vasyl Latsanych to lead NEQSOL Holding's telecoms division". Trend.Az. 20 September 2021. Retrieved 21 March 2023.
  19. ↑ "NEQSOL Holding announces the appointment of Vasyl Latsanych as the new Chairman of the Vodafone UA Board". Bloomberg.com. 26 January 2023. Retrieved 21 March 2023.
  20. ↑ "Vodafone Ukraine highlights effects of war in H1 report". www.commsupdate.com. Retrieved 8 March 2023.
  21. ↑ Wiel, Ken; 2022-09-01T16:05:00. "Vodafone Ukraine counts cost of war". TelcoTitans.com. Retrieved 8 March 2023.{{cite web}}: CS1 maint: numeric names: authors list (link)
  22. ↑ "Ukrainian mobile operator says rebuilding will cost more than $50 million". english.nv.ua. Retrieved 8 March 2023.
  23. ↑ "Потерять вышки и миллиарды, получить Starlink: как мобильные операторы возвращают связь". LIGA (in Russian). 16 May 2022. Retrieved 8 March 2023.
  24. ↑ ""Vodafone Україна" за 9 міс. скоротив дохід на 1% та отримав 620 млн грн збитку". Інтерфакс-Україна (in Ukrainian). Retrieved 8 March 2023.
  25. ↑ "Azerbaijani Neqsol Holding becomes 100% owner of Georgian internet provider Caucasus Online". Agenda.ge. Retrieved 8 March 2023.
  26. ↑ Newswire, Legal (27 July 2022). "ARBITRATION TRIBUNAL DISMISSED GEORGIAN AUTHORITIES' OBJECTION ON CAUCASUS ONLINE LEGAL DISPUTE". Legal Newswire. Retrieved 8 March 2023.
  27. ↑ "Nasib Hasanov v. Georgia, ICSID Case No. ARB/20/44 | italaw". www.italaw.com. Retrieved 8 March 2023.
  28. ↑ "MagtiCom in the running for Caucasus Online". www.commsupdate.com. Retrieved 8 March 2023.
  29. ↑ "Former Veon exec Latsanych to head Caucasus telecoms operation". Capacity Media. 1 October 2021. Retrieved 8 March 2023.
  30. ↑ "Digital Silk Way Project Comes into International Spotlight". caspiannews.com. Retrieved 8 March 2023.
  31. ↑ "Implementation of Digital Silk Way Project in Progress". caspiannews.com. Retrieved 8 March 2023.
  32. ↑ "Implementation of Digital Silk Way Project in Progress". caspiannews.com. Retrieved 8 March 2023.
  33. ↑ ""Digital Silk Way" project comes into international spotlight (PHOTO)". Trend.Az. 8 April 2022. Retrieved 8 March 2023.
  34. ↑ "Silk Way Project". ADH. Retrieved 8 March 2023.
  35. ↑ "Two fibres across Caspian Sea to form part of Digital Silk Way". Capacity Media. 11 January 2023. Retrieved 8 March 2023.
  36. ↑ "Owner of Vodafone Ukraine to allocate $1 mln to fight coronavirus spread in the country". www.ukrinform.net. 31 March 2020. Retrieved 8 March 2023.
  37. ↑ "Vodafone Ukraine and UNHCR cooperate to give free access mobile communication to the most vulnerable in East Ukraine". UNHCR. Retrieved 8 March 2023.
  38. ↑ Mauldin, William (15 January 2023). "Russian Strikes Sap Ukraine Mobile Network of Vital Power". Wall Street Journal. Retrieved 8 March 2023.
  39. ↑ "Ukraine war effort sustained by unbroken internet lifeline". Nikkei Asia. Retrieved 8 March 2023.
  40. ↑ "NEQSOL Holding commented on its support for evacuation of Azerbaijani citizens from Ukraine". Azernews.Az. 6 March 2022. Retrieved 8 March 2023.
  41. ↑ "NEQSOL Holding commented on its support for evacuation of Azerbaijani citizens from Ukraine" . Retrieved 8 March 2023.
  42. ↑ "® Bakcell sends special telecommunication equipment to Türkiye". azertag.az. Retrieved 8 March 2023.
  43. ↑ ""Azerconnect" şirkətindən Türkiyəyə 5 milyon TL dəstək – FOTO". Apa.az (in Azerbaijani). Retrieved 8 March 2023.
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