Under the agreement, SOCAR will supply gas volumes in phases to gradually reach approximately 1.5 bcm (53 bcf) per year, with deliveries scheduled to begin in 2025. The gas will be transported via pipeline and will support investments in production and infrastructure, such as gas compressors.
SOCAR (State Oil Company of Azerbaijan Republic) and UK oil major BP have signed a memorandum of understanding (MoU) to explore potential collaboration opportunities in international oil and gas upstream projects. The partnership, focused on bolstering global energy security, underscores the companies’ commitment to a reliable and sustainable energy supply.
Eni SPA and the State Oil Company of the Azerbaijan Republic (SOCAR) agreed to cooperate on emission reduction projects in the COP29 host country at the same time pursuing hydrocarbon exploration and production to secure fuel for Europe.