SOCAR and BP – In a significant move aimed at bolstering energy security worldwide, SOCAR (The State Oil Company of Azerbaijan Republic) and bp have announced the signing of a memorandum of understanding
(MOU). The agreement outlines the two energy giants’ intent to explore collaborative opportunities
in international oil and gas upstream projects.
Exploring New Horizons in Energy for SOCAR and BP
The MOU marks a new chapter in SOCAR and bp’s long-standing partnership, focusing on enhancing
energy security through cooperation in hydrocarbons exploration and production. Both companies
will evaluate synergies and investment opportunities, leveraging their combined expertise in the
international arena.
In today’s global energy landscape, ensuring secure and affordable energy supplies is critical. The
collaboration between SOCAR and bp is poised to address this challenge by bringing their shared
knowledge and technical capabilities to bear on new projects. The agreement symbolizes a
commitment not only to securing energy for the present but also to investing in sustainable, long-
term solutions.
Leaders Comment on the Strategic Partnership
Rovshan Najaf, President of SOCAR, emphasized the historical significance of this agreement, saying:
“This agreement marks not only a new chapter in our long-standing partnership with bp but also
coincides with the 30th anniversary of the ‘Contract of the Century,’ a historic milestone for
Azerbaijan. Signed under the leadership of our national leader Heydar Aliyev, that agreement laid
the foundation for Azerbaijan’s role as a key global energy supplier. Building on this legacy, we are
now looking beyond our borders to explore new opportunities, ensuring secure and sustainable
energy supplies for the future.”
The mention of the “Contract of the Century” highlights Azerbaijan’s three-decade journey as a
pivotal player in global energy markets. As both companies celebrate this landmark, they look
forward to expanding their influence beyond Azerbaijan’s borders, fostering international projects
that align with modern energy needs.
Gary Jones, bp’s regional president for Azerbaijan, Georgia, and Türkiye, echoed this sentiment:
“Today we are laying the foundation of a new era of cooperation with SOCAR. We have worked
together for 30 years successfully developing Azerbaijan’s oil and gas resources, which have secured
the country’s role as a reliable energy supplier to the region and the world. Now it’s time to look for
new areas of collaboration both regionally and globally, and embark on new partnership
opportunities. Together we can achieve a lot. We are pleased to start a new page of cooperation
with SOCAR, joining our efforts to provide the world with the energy it needs today.”
A Legacy of Cooperation and Future Ambitions
The MOU not only underscores SOCAR and bp’s desire to continue their successful partnership but
also signals their intent to expand into new regions and fields of opportunity. Over the last 30 years,
both companies have played key roles in ensuring that Azerbaijan remains a significant energy
supplier to both regional and global markets. This next phase of cooperation is expected to extend
that influence, with potential projects across the globe.
As the world grapples with the challenge of securing stable and affordable energy supplies in an era
of shifting geopolitical and environmental factors, partnerships like that between SOCAR and bp are
critical. By combining resources, knowledge, and experience, both companies are setting the stage
for a more secure and sustainable energy future.
In a global market defined by rising energy demand and the need for resilient energy infrastructure,
this renewed partnership is well-positioned to drive forward innovation, stability, and collaboration
across borders.
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