Comstock Resources, Inc. and Azerbaijan’s SOCAR have signed a framework agreement advancing their previously announced $1.65 billion strategic partnership in the Haynesville shale. The agreement formalizes the companies’ commitment to negotiate and execute a definitive purchase and sale agreement consistent with the letter of intent announced earlier this year. Comstock expects the definitive agreement […]
ExxonMobil has agreed to pump oil and natural gas from Azerbaijan’s shale fields as the Texas energy giant takes its fracing expertise overseas. ExxonMobil has entered a joint venture with Azerbaijan’s state oil company SOCAR that will allow it to explore and develop “unconventional hydrocarbon resources” in the Middle Kura basin, the companies said in […]
TotalEnergies and partners SOCAR and XRG have taken final investment decision (FID) on the full-field development of the Absheron gas and condensate field offshore Azerbaijan, targeting startup in 2029. The development will increase overall Absheron production capacity to 6 billion cubic meters per annum (Bcma) of gas and 47,000 bpd of condensate. Gas production will […]
Italy’s Eni has signed a binding agreement to sell a 10% stake in the Baleine offshore oil and gas project in Côte d’Ivoire to SOCAR, the State Oil Company of the Republic of Azerbaijan. The deal reduces Eni’s operating stake to 37.25% while leaving it as project operator. Vitol retains a 30% interest and Côte d’Ivoire’s state oil company Petroci holds 22.75%.
Azerbaijan’s state oil company SOCAR has signed an agreement with Italian Eni S.p.A. to acquire a 10% participating interest in the development project of the Baleine oil and gas field located offshore Côte d’Ivoire, Trend reports via SOCAR.
MOL Group and SOCAR have signed a comprehensive onshore exploration, development and production sharing agreement covering the Shamakhi-Gobustan region of Azerbaijan, strengthening their long-standing upstream partnership in the Caspian region. Under the agreement, MOL Group will serve as operator with a 65% working interest, while SOCAR will hold the remaining 35%. The fully termed deal follows a preliminary […]
A consortium between the State Oil Company of the Azerbaijan Republic (SOCAR) and Saipem SpA has won contracts for a $2.9-billion compression project in the BP PLC-operated Shah Deniz field on Azerbaijan’s side of the Caspian Sea, BP and Saipem said. The compression project will access low-pressure gas and enable the production of an additional […]
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.