BAKU, Azerbaijan, September 26. As part of the
Second Azerbaijan International Investment Forum held today in Baku
SOCAR signed a number of documents with various companies.


This was reflected in the statement published by SOCAR.


Under the Production Sharing Agreement for the exploration,
development and production of unconventional hydrocarbon resources
in the Middle Kura Basin of the Republic of Azerbaijan, signed
between SOCAR and ExxonMobil, the participating interests in the
contract area will be held through the respective subsidiaries,
with SOCAR holding 50% and ExxonMobil holding 50%. ExxonMobil will
serve as the operator of the project.


At the ceremony, SOCAR, XRG and TotalEnergies exchanged the
Final Investment Decision document on the full-field development of
the Absheron gas-condensate field. As part of the full-field
development, the drilling of additional wells and the development
of new processing infrastructure will enable the efficient
development of the field’s resource potential and bring the overall
recovery factor to a level comparable with leading international
gas projects.


Under the Framework Agreement on strategic partnership between
SOCAR and Comstock Resources, the parties will cooperate to explore
opportunities for natural gas attributable to Comstock’s interest
and produced from the Haynesville shale assets to be liquefied and
marketed by SOCAR in international markets outside the United
States. The companies will focus on identifying potential buyers,
evaluating pricing mechanisms, as well as logistics and regulatory
matters related to such international sales arrangements.


The Memorandum of Understanding between SOCAR and Apollo on a
strategic partnership for investment in upstream development and
production projects provides for the evaluation and structuring of
potential investments by Apollo-managed funds in SOCAR’s interests
in upstream development and production projects, the establishment
of joint working groups for this purpose, the conduct of legal,
financial and technical due diligence, and the preparation of
definitive agreements.







The Memorandum of Understanding between SOCAR and Securing
Energy for Europe GmbH (SEFE) on cooperation in natural gas, LNG,
energy security, energy infrastructure development and upstream
projects envisages expanding cooperation between the parties in
natural gas and LNG supply, the joint development of energy
infrastructure projects, investments in upstream projects, as well
as strengthening energy security.


The Strategic Cooperation Agreement between SOCAR and VNG
establishes a framework for future cooperation between the
companies. The document envisages a long-term partnership in
natural gas, as well as related infrastructure and regulatory
matters. The parties will also cooperate on the energy transition,
as well as scientific and technical matters related to hydrogen and
its derivatives.


Under the agreement on the deployment of the Oracle Alloy
platform in Azerbaijan, Caspian Mind AI will become an Oracle Alloy
operator in the country, enabling the company to provide sovereign
Oracle cloud infrastructure services through locally operated cloud
infrastructure. Caspian Mind AI will manage customer relationships,
sales processes and certain aspects of customer support while
leveraging Oracle’s cloud technologies and operational
expertise.


As part of the event, SOCAR and Italy’s Eni S.p.A. also
exchanged a Protocol on the Completion of the Transaction for the
Acquisition of a 10% Ownership Interest in the Baleine Oil and Gas
Field Development Project in the Republic of Côte d’Ivoire.
Following completion of the transaction, the participating
interests in the Baleine project are held by Eni at 37.25%, Vitol
at 30%, Petroci at 22.75% and SOCAR at 10%. In addition to marking
SOCAR’s entry into Africa’s upstream sector, the acquisition will
contribute to the company’s long-term strategy of expanding its
global upstream operations.