Azerbaijan’s ACG field is on the cusp of a significant transformation following the signing of a Non-Associated Gas (NAG) agreement. A consortium of energy giants, including ONGC Videsh, bp, the State Oil Company of Azerbaijan (SOCAR), and others, has added a crucial new addendum to the existing Production Sharing Agreement (PSA) for the Azeri-Chirag-Deepwater Gunashli […]
Abu Dhabi Future Energy Company PJSC – Masdar, a leader in the UAE’s renewable energy sector, and the State Oil Company of Azerbaijan Republic (SOCAR), have commenced the groundbreaking of three significant solar and wind energy projects in Azerbaijan. This development, with a combined capacity of 1 gigawatt (GW), was officially initiated during the opening […]
In a significant expansion of its strategic partnerships, the Abu Dhabi National Oil Company (ADNOC) has granted a 3% participating interest in the SARB and Umm Lulu offshore concession to the State Oil Company of Azerbaijan Republic (SOCAR). This deal, which fortifies the energy ties between the United Arab Emirates (UAE) and Azerbaijan, reflects both […]
The Abu Dhabi National Oil Company (ADNOC) is set to acquire a 30% equity stake in the producing Absheron gas and condensate field located in the Caspian Sea. This significant move for a stake in the Absheron Gas Field forms part of ADNOC’s efforts to tap into the international gas market and solidifies the energy […]
TotalEnergies and its partner, the State Oil Company of the Republic of Azerbaijan (SOCAR), have announced the commencement of production from the first phase of development of the Absheron gas and condensate field. The field, situated about 100 km southeast of Baku in the Caspian Sea, promises to bolster the gas supply in response to […]
PJSC Lukoil has wrapped up the previously announced $1.45 billion acquisition of an additional 9.99% stake in the Shah-Deniz gas project, offshore Azerbaijan from Petronas. The Russian oil and gas company has now increased its stake in the Shah-Deniz field in the Caspian Sea from 10% to 19.99%. The deal was announced last October under […]