SOCAR continues to acquire stakes in strategic assets in foreign countries in line with its strategy to expand production footprint. Within this framework, on January 31, 2025, an agreement was signed with Union Energy for the acquisition of 10% effective ownership in the Tamar field, located offshore of Israel, one […]
Azerbaijan’s gas exports to Europe increased by more than 9% in 2024, reaching 12.9 billion cubic meters, according to a report from the Azerbaijani Ministry of Energy. The country’s total natural gas production last year amounted to 13.3 billion cubic meters from the Azeri-Chirag-Gunashli fields, 27.8 billion cubic meters from […]
With support of the State Oil Company of Azerbaijan Republic (SOCAR), the Oil and Gas Decarbonization Charter (OGDC) organized an international event on “Shaping The Industry’s Path To Net Zero And Realizing The Ambitions of OGDC”. Numerous international energy companies, including SOCAR, bp, Saudi Aramco, ADNOC, Petronas, TotalEnergies, ExxonMobil, Environmental […]
During Baku Energy Week, the State Oil Company of Azerbaijan Republic (SOCAR) and Masdar, a company from the United Arab Emirates, signed Shareholders’ Agreements for three renewable energy projects. Minister of Economy of Azerbaijan and Chairman of the SOCAR Supervisory Board Mikayil Jabbarov, along with Minister of Industry and Advanced […]
Azerbaijan officially unveiled the logo for the upcoming 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) during a press conference in Baku on April 15th. The logo, which is rich in cultural and environmental symbolism, features the buta – a […]
Azerbaijan will host the COP29 world climate talks next year, ending a months-long standstill caused by the crisis in Ukraine. The countries of the former Soviet bloc have unanimously agreed that COP29 will be organized in the capital Baku, Azerbaijani Environment Minister Mukhtar Babayev told delegates at COP28, which took […]
On December 3, 2023, the State Oil Company of Azerbaijan Republic (SOCAR) held a “Decarbonization Strategy and Future Prospects” event during COP-28 of the United Nations in Dubai, United Arab Emirates. As an honored event guest, Mukhtar Babayev, the Minister of Ecology and Natural Resources of the Azerbaijan Republic, delivered […]
On December 1, 2023, the State Oil Company of Azerbaijan Republic (SOCAR) participated in the 8th Coordination Committee Meeting in Berlin, Germany, a collaborative event with Uniper, highlighting the enduring partnership in the energy sector. The agenda of the meeting included discussions on Uniper’s new strategy and business outlook, developments […]
On 15th November 2023, a meeting between the Azerbaijani and Serbian delegations took place in Baku. Two important documents for future cooperation were signed at this meeting: a Memorandum of Understanding between the Ministry of Energy of the Republic of Azerbaijan and the Ministry of Mining and Energy of the […]
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 […]