Azerbaijan signs natural gas production agreement At ACG anniversary event

At an event held at the Gulustan Palace in Baku to commemorate the 30th anniversary of the Azeri-Chirag-Gunashli (ACG) agreement, a Memorandum of Understanding (MoU) was signed allowing for the free production of natural gas from the field.

This significant development was reported by bp Azerbaijan, Caliber.Az reports via local media.

In a related announcement, bp and SOCAR (State Oil Company of the Republic of Azerbaijan) have also signed a memorandum of understanding regarding their intent to enter agreements for two production blocks and one exploration block in the Azerbaijani sector of the Caspian Sea.

This collaboration reflects the ongoing commitment to enhancing Azerbaijan's energy sector and strengthening international partnerships.

These agreements not only mark a milestone in the development of the Caspian Sea's resources but also signify Azerbaijan's strategic role in the global energy market, paving the way for future advancements in production and exploration.