SOCAR may expand footprint in Egypt’s oil, gas sector

Egypt and Azerbaijan are exploring opportunities to strengthen long-term cooperation in the oil and gas sector, with discussions focusing on expanding strategic energy ties and investment collaboration.

The issue was discussed during a meeting between Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and SOCAR Vice President Elshad Nasirov on the sidelines of Baku Energy Week, Caliber.Az reports via local media.

“The sides focused on strengthening the long-term strategic partnership between the two countries and expanding its scope,” the Egyptian Ministry of Petroleum and Mineral Resources  said in a statement.

During the meeting, Badawi highlighted Egypt’s advanced infrastructure for oil refining, transportation, storage, and exports, presenting these capabilities as a strong foundation for broader bilateral cooperation in the energy sector.

The Egyptian minister also outlined investment opportunities in hydrocarbon exploration, development, and production, and invited the State Oil Company of the Azerbaijan Republic (SOCAR) to expand its presence in the Egyptian market.

The ministry noted that the talks build on a framework agreement signed in Cairo on March 31 during the Egypt Energy Show (EGYPES). The agreement provides for cooperation across several areas, including the supply of liquefied natural gas (LNG), crude oil and petroleum products, investments, as well as training and professional development initiatives.

By Vafa Guliyeva