15:43 - 15.09.2025

---

September 15, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) has studied the possibility of conducting exploration work in Bulgaria and Iraq.

ABC.AZ informs that this is stated in SOCAR's annual report devoted to its activities in 2024.

"In 2024, an assessment of exploration projects in Bulgaria and Iraq was conducted, and SOCAR management was provided with proposals for making investment decisions," the report says.

SOCAR also assessed the oil & gas potential of Azerbaijan's onshore oil and gas basins and a number of contract areas in the Azerbaijani sector of the Caspian Sea in 2024.

In particular, gas reserves in shallow formations of promising structure Mashal with high hydrocarbon potential have been estimated, as well as the Goshadash structure and promising field Oguz in the Caspian Sea have been evaluated.