SOCAR signed a series of agreements with international companies during the Second Azerbaijan International Investment Forum, held under the patronage of President Ilham Aliyev.

The documents signed and exchanged at the ceremony span upstream exploration, liquefied natural gas marketing, energy infrastructure, hydrogen cooperation and cloud computing, and mark Azerbaijan's state oil company's entry into Africa's upstream sector.

ExxonMobil to Operate Middle Kura Unconventional Project

Under the Production Sharing Agreement signed between SOCAR and ExxonMobil for the exploration, development, and production of unconventional hydrocarbon resources in the Middle Kura Basin of Azerbaijan, participating interests in the contract area will be held through the respective subsidiaries, with SOCAR holding 50 percent and ExxonMobil holding 50 percent. ExxonMobil will serve as the operator of the project.

Final Investment Decision Reached on Absheron Full-Field Development

At the ceremony, SOCAR, XRG, and TotalEnergies exchanged the Final Investment Decision document on the full-field development of the Absheron gas-condensate field.

As part of the full-field development, the drilling of additional wells and the development of new processing infrastructure will enable the efficient development of the field's resource potential and bring the overall recovery factor to a level comparable with leading international gas projects.

Comstock Partnership Targets International Sales of Haynesville Gas

SOCAR and Comstock Resources will explore opportunities to liquefy and market natural gas produced from Comstock’s Haynesville shale assets in international markets outside the United States.

The cooperation will focus on identifying potential buyers, evaluating pricing mechanisms, and assessing logistics and regulatory requirements for international sales.

Apollo to Evaluate Investments in SOCAR Upstream Projects

The Memorandum of Understanding between SOCAR and Apollo on a strategic partnership for investment in upstream development and production projects provides for the evaluation and structuring of potential investments by Apollo-managed funds in SOCAR's interests in upstream development and production projects.

The memorandum also covers the establishment of joint working groups for this purpose, the conduct of legal, financial, and technical due diligence, and the preparation of definitive agreements.

SEFE Agreement Covers Gas, LNG, and Energy Security Cooperation

The Memorandum of Understanding between SOCAR and Securing Energy for Europe GmbH (SEFE) on cooperation in natural gas, LNG, energy security, energy infrastructure development, and upstream projects envisages expanding cooperation between the parties in natural gas and LNG supply, the joint development of energy infrastructure projects, and investments in upstream projects, as well as strengthening energy security.

VNG Agreement Includes Hydrogen and Energy Transition Work

The Strategic Cooperation Agreement between SOCAR and VNG establishes a framework for future cooperation between the companies.

The document envisages a long-term partnership in natural gas, as well as related infrastructure and regulatory matters. The parties will also cooperate on the energy transition, as well as scientific and technical matters related to hydrogen and its derivatives.

Oracle Alloy Platform to Be Deployed in Azerbaijan

Under the agreement on the deployment of the Oracle Alloy platform in Azerbaijan, Caspian Mind AI will become an Oracle Alloy operator in the country, enabling the company to provide sovereign Oracle cloud infrastructure services through locally operated cloud infrastructure. Caspian Mind AI will manage customer relationships, sales processes, and certain aspects of customer support while leveraging Oracle's cloud technologies and operational expertise.

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