11:40 - 4.08.2023

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August 4, Fineko/abc.az. An agreement signing ceremony was held between the State Oil Company of the Republic of Azerbaijan (SOCAR), TotalEnergies and the Abu Dhabi National Oil Company (ADNOC).

ABC.AZ was informed at SOCAR that the event was attended by the Minister of Economy, Chairman of the Supervisory Board of SOCAR Mikail Jabbarov, SOCAR President Rovshan Najaf, President of Exploration and Production of TotalEnergies Nicholas Terraz, Executive Director for Low-carbon Solutions and International Development of ADNOC Musabbeh al Kaabi.

At the ceremony, an agreement was signed between SOCAR, TotalEnergies and ADNOC on the sale of a 30% stake in the Absheron gas condensate field.

Upon completion of the purchase, ADNOC will receive a 30% stake in the Absheron gas condensate field, while the share of SOCAR and TotalEnergies will amount to 35%, respectively.
The agreement will further strengthen the strategic ties between Azerbaijan and the UAE and will make valuable contribution to our country's position as a reliable supplier of natural gas.