SOCAR, ExxonMobil partner to advance oil, gas development in Azerbaijan PHOTO

The State Oil Company of Azerbaijan (SOCAR) and US-based energy giant ExxonMobil Corporation have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in the oil and gas sector.

The agreement was formalized during the Baku Energy Week, a major international energy forum currently underway in the Azerbaijani capital, Caliber.Az reports via SOCAR.

The MoU was signed by SOCAR President Rovshan Najaf and ExxonMobil Vice President John Ardill. The signing ceremony marks a renewed commitment to strategic collaboration between the two companies, reinforcing Azerbaijan’s role as a key player in global energy markets.

Under the terms of the agreement, SOCAR and ExxonMobil will work together to identify and develop joint opportunities within Azerbaijan’s oil and gas industry. The initiative aims to foster technological exchange, innovation, and investment, further strengthening the country's energy infrastructure and production capabilities.

Over the years, Baku Energy Week has solidified its reputation as a premier platform for energy dialogue and collaboration at both regional and international levels, securing its status as one of the most highly anticipated events on the global energy calendar.

The event brings together three distinguished gatherings under a single banner: the 30th Anniversary International Caspian Oil & Gas Exhibition, the 13th Caspian International Power and Green Energy Exhibition, and the 30th Anniversary Baku Energy Forum.

By Vafa Guliyeva