16:34 - 3.08.2026

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August 3, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) has acquired from ITOCHU entire 3.65% share in the Azeri-Chirag-Gunashli (ACG) project, increasing SOCAR's stake from 31.65% to 35.3%

The relevant documents on the purchase and sale transaction have been signed, and the procedure has been completed in accordance with all regulatory requirements. 

SOCAR President Rovshan Najaf emphasized ACG's important role in the region's energy security and expressed gratitude to ITOCHU for their long-standing and fruitful cooperation. In turn, ITOCHU's Chief Operating Officer Tetsuya Yamada noted that the transfer of the asset does not mean company's withdrawal from Azerbaijan but rather marks a new stage of strategic partnership with SOCAR.