August 31, 2023, witnessed a ceremony marking the commencement of the first gas production from the Absheron gas and condensate field. In his inaugural address, Mikayil Jabbarov, the Minister of Economy of the Republic of Azerbaijan and Chairman of SOCAR’s Supervisory Board, emphasized the monumental importance of this occasion, particularly […]
On August 4th, 2023, the State Oil Company of Azerbaijan Republic (SOCAR) and Microsoft signed a Memorandum of Understanding. The memorandum envisages cooperation in digitalization, innovation, enhancing IT infrastructure, developing human capital, including exploration, production, processing, and marketing, transportation, and cyber security. As a result of SOCAR’s proactive initiative and […]
The Absheron gas-condensate field, situated in the Azerbaijani sector of the Caspian Sea, approximately 100 kilometers southeast of Baku, has started production under the Early Production Scheme (EPS) phase. This stage involves the connection of the subsea production well to a new gas processing platform, which is linked to SOCAR’s […]
At the Annual Meeting of the European Bank for Reconstruction and Development (EBRD) held on 16th of May in the Republic of Uzbekistan, a Memorandum of Understanding on the promotion of cooperation in the field of decarbonization was signed between the State Oil Company of the Republic of Azerbaijan (SOCAR) […]
SOCAR Trading and Romania’s Romgaz S.A. signed the agreement on gas transportation up to one billion cubic meters of gas from Azerbaijan to Romania in 2023-2024 at the Southern Gas Corridor Advisory Council on February 3, 2023. The new contract will come into force on April 1, 2023 and expands […]
The Azerbaijani state oil company (SOCAR) and the United Arab Emirates company MASDAR signed an agreement to develop 4 gigawatts of wind and solar power plants in Azerbaijan during Sustainability Week in Abu Dhabi. However, this is only a short-term project. Medium-term projects will make it possible to increase capacity […]
The delegation of the State Oil Company of the Republic of Azerbaijan (SOCAR) participated in the annual meeting of the Steering Committee of the Global Gas Flaring Reduction Partnership (GGFR) organization, which was held in London, United Kingdom, on October 25th. At the meeting, participants were informed about a number […]
On 1 October, the opening ceremony of the Interconnector Greece-Bulgaria (IGB) gas pipeline took place in Sofia, the capital of the Republic of Bulgaria. Bulgarian President Rumen Radev welcomed the President of the Republic of Azerbaijan Ilham Aliyev and the heads of state and government of other countries. The gas […]
“We will double the amount of gas supplied from Azerbaijan to the European Union,” said EU Commission President, Ursula von der Leyen, in a press statement after her meeting with Azerbaijani President, Ilham Aliyev, in Baku on 18th July. The EU Commission President drew attention to the fact that the […]
On 28 April 2022, delegations from SOCAR and Uniper met in Baku as part of the 7th meeting of the Coordination Committee between the State Oil Company of the Republic of Azerbaijan (SOCAR) and the German energy company Uniper. First Vice President and Acting President of SOCAR Rovshan Najaf discussed […]