Brief Overview

NEQSOL Holding is an international group of companies with main business areas covering energy, telecommunications, hi-tech, and construction industries.

The group of companies operates in the UK, the USA, Turkey, Azerbaijan, Ukraine, Georgia, Kazakhstan, the UAE, and more, providing services to over 25 million customers across the globe.

The companies within the holding have solid expertise in their industries, with some of them operating for more than two decades. NEQSOL Holding brings the companies together to build a multifaceted and multi-industry business portfolio that ultimately strengthens strategic management and synergies between them.

Businessman and philanthropist Mr. Nasib Hasanov is the founder and 100% owner of NEQSOL Holding. In the 1990s, amid the collapse of the Soviet Union, Mr. Hasanov began to provide brokerage services – initially dealing in bulk commodity chemicals – doing business in Kazakhstan, Uzbekistan, Azerbaijan, Russia, Turkmenistan, and other former USSR countries. Mr. Hasanov’s business expanded to deal with a growing range of chemicals and then equipment, fast becoming a key supplier to the regions’ oil & gas industry.

Mr. Nasib Hasanov used the capital he accumulated through his brokerage businesses to invest in the oil & gas industry in Azerbaijan, establishing businesses in this industry. Further investments led to the rapid growth and expansion of these businesses, laying the foundation of the group. The holding’s businesses in the energy industry are consolidated under the two groups, Nobel Oil E&P (UK) Limited (trade name Nobel Upstream) and Nobel Energy (formerly Nobel Oil Services (UK) Limited).

Nobel Upstream is involved in exploration and production activities in the UK, the USA, and Azerbaijan, while Nobel Energy group of companies provides the full scope of diversified integrated services for international oil and gas operators in the Caspian region and beyond. The group has successfully established several joint ventures with leading international oil and gas services companies such as KCA Deutag, Wood Group, and others.

The holding stepped into the telecommunication industry in 2005 by acquiring Bakcell, Azerbaijan’s first telecommunication company, which later led to creation and expansion of other businesses in this industry. NEQSOL Holding acquired Vodafone Ukraine, the country’s second-largest mobile operator, in 2019. The holding’s companies provide high-quality and innovative services for the customers.

NEQSOL Holding launched the Digital Silk Way program in 2018 to develop a modern transit fiber-optic infrastructure network connecting Europe to Central and South Asian markets through Georgia and Azerbaijan. In 2020, the Global Strategic Infrastructure Leadership Forum held in the US selected the Digital Silk Way project as one of the top five infrastructure projects in Asia.

In the late 2000s, the group expanded its business portfolio by entering the construction services and materials markets. Along with the construction services for the energy industry, the group is actively engaged in the production of cement and related materials. Launched in 2013, Norm is currently the largest cement producer in the South Caucasus.

The holding has also invested in various hi-tech startups and companies that provide innovative solutions and reliable services in multiple markets.

NEQSOL Holding has a professional team of more than 10,000 employees worldwide, considering human capital the most important asset. The holding plans to expand its business activities by entering both new geographies and business areas.

Mr. Nasib Hasanov is the sole ultimate beneficial owner of Nobel Energy, Nobel Oil E&P (UK) Limited (trade name Nobel Upstream), Vodafone Ukraine, Bakcell LLC, and Norm OJSC.