BAKU, Azerbaijan, December 17. The President of
the State Oil Company of Azerbaijan (SOCAR), Rovshan Najaf, and the
Acting Chief Executive Officer (CEO) and a Board Member of ENOC
Group, Hussain Lootah, discussed the expansion of cooperation in
the energy sector, Trend reports via SOCAR.


During the meeting, the parties engaged in discussions regarding
the scope of cooperation between the companies, emphasizing the
significance of the Memorandum of Understanding (MoU) signed in
November this year between SOCAR and Dragon Oil, particularly in
the context of enhancing bilateral relations.


The discussions also encompassed potential areas for
collaboration across various segments of the energy sector,
including exploration, extraction, digitization, trading,
marketing, and other mutually beneficial domains.


On November 4, 2025, SOCAR and its trading arm, SOCAR Trading,
formalized their partnership with Dragon Oil, a subsidiary of ENOC,
through the signing of a Memorandum of Understanding. This
agreement is designed to fortify cooperation in exploration,
production, development, and marketing, while also laying the
groundwork for future joint ventures in the oil and gas sector.


Founded in 1992, SOCAR operates across the full oil and gas
value chain, from exploration and production to processing and
export. The company also manages a network of gas stations and
international assets in several countries, engages in energy
trading, and plays a pivotal role in Azerbaijan’s economic
landscape.














ENOC is a state-owned energy company founded in 1993, fully
owned by the Government of Dubai through its Investment
Corporation. It's a major integrated player in the oil and gas
sector, operating along the entire value chain: exploration and
production, supply and processing, terminals, retail network of
fuel stations and aviation fuel, as well as trade and logistics of
energy carriers.


ENOC manages its own oil refining infrastructure (including a
plant in Jebel Ali), a network of gas stations in the UAE, and
serves customers in approximately 60 foreign markets.


The company maintains a significant presence in the region and
contributes to the economic development of Dubai, combining
traditional energy segments with new services and technologies.


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