BAKU, Azerbaijan, January 23. During the World
Economic Forum in Davos, the State Oil Company of Azerbaijan
(SOCAR) unveiled an ambitious global expansion plan that combines
investments in oil and gas fields, international retail expansion,
and technological transformation. These initiatives reflect the
country's long-term strategy to strengthen Azerbaijan's role as an
energy bridge between East and West, as well as creating new
opportunities for regional cooperation and diversification of
energy supplies.


A key deal was the purchase of a 10% stake in the Baleine oil
and gas field development project in Côte d'Ivoire, jointly with
Italian company Eni S.p.A. The field, discovered in 2021 and
already producing 62,000 barrels of oil and 75 million cubic feet
of gas per day, will increase production to 150,000 barrels of oil
and 200 million cubic feet of gas per day by the third phase. The
project is positioned as the first zero-emission offshore oil and
gas project in Africa, underscoring SOCAR's commitment to
sustainability standards.


In terms of strategy, SOCAR's participation in African projects
is not only about diversifying assets, but also about strengthening
Azerbaijan's energy diplomacy. Continental expansion allows
Azerbaijan to strengthen ties with key players in the region,
integrate Africa into global oil and gas supply chains, and create
potential for joint investments in clean energy. For Europe, this
opens up an additional source of oil and gas supplies with a
minimal carbon footprint, which increases the continent's energy
security amid global market instability.


SOCAR's expansion into the European retail market is no less
significant. Currently, SOCAR's network includes 564 stations in
Austria, Switzerland, Ukraine, Georgia, Romania, and Türkiye. These
steps strengthen the Azerbaijani company's influence in
international markets, increase brand awareness, and create
infrastructure bridges for energy integration between regions.


Technological innovation remains a key element of SOCAR's
strategy. The SOCAR Carbamide plant has joined the prestigious
Global Lighthouse Network and received the Digital Lighthouse Award
for its implementation of Industry 4.0 technologies. The use of
artificial intelligence, robotics, and digital tools has increased
productivity by 21%, natural gas efficiency by 24%, and reduced
carbon emissions by 19%. These achievements strengthen SOCAR's
competitiveness, demonstrating that sustainable development and
technological innovation can go hand in hand.







Simultaneously, the company is expanding its digital and
environmental agenda through international cooperation: an
agreement with Switzerland's SICPA SA on energy resource
traceability, a partnership with Planet Labs PBC on satellite
environmental monitoring, and joint initiatives with Honeywell and
ADNOC Group on clean energy and sustainable infrastructure.


SOCAR's financial stability has been confirmed by leading
international agencies. Moody's upgraded the company's rating to
investment grade Baa3, while S&P Global Ratings improved its
long-term credit rating to “BB” with a positive outlook. SOCAR's
ESG rating according to Sustainable Fitch is “3”, reflecting
reliable risk management, emission reduction targets, and ongoing
challenges in corporate governance.


The regional and global impact of SOCAR's initiatives cannot be
overstated. Its expansion in Africa is creating new supply points
for the global energy sector, its European retail network is
strengthening its presence in key markets, and its technological
and ESG initiatives are increasing the company's investment
attractiveness. For Azerbaijan, this represents not only growth in
corporate capital but also a strengthening of the country's
position as a reliable partner in energy security. For the region,
it means the development of energy cooperation, the creation of
integrated supply chains, and new opportunities for joint
investment in green energy.


SOCAR demonstrates that a national oil and gas company can
combine global ambitions, innovation, and sustainable development,
shaping Azerbaijan's energy brand on the world stage and laying the
foundation for a safer and more sustainable future in global
energy.