BAKU, Azerbaijan, February 9. The State Oil
Company of the Republic of Azerbaijan (SOCAR) and GL Group
discussed the implementation of the budget and work program,
Trend reports via the
GL Group.
The discussions took place during a meeting of the Steering
Committee on joint projects between GL Group and SOCAR.
Meanwhile, it is noted that the meeting reviewed the
implementation of the Work Program and Budget for 2025, as well as
discussed the proposed Work Program and Budget for 2026 for Salyan
Oil Ltd, which operates the Kursangi and Garabagli fields, and
Taghiyev Operating Company LLC, which operates the
Buzovna-Mashtaga, Gala, and Zira fields.
"The meeting was co-chaired by GL Group CEO and Advisory Board
Chairman Asif Zeynalov and SOCAR Vice President Babek Huseynli.
Discussions focused on activities within the contract areas, the
results of the 2025 Work Program and Budget, and the operational
and investment priorities planned for 2026.
As part of the visit, the meeting participants inspected Site 6
at the Garabagli field, operated by Salyan Oil Ltd, a recently
commissioned well at the Kursangi field, and a well currently under
drilling," the information states.
According to the information, the meeting is of great importance
for further expanding strategic cooperation between GL Group and
SOCAR, increasing production efficiency, and ensuring the
sustainable development of joint projects.
GL Group operates five oil and gas fields in Azerbaijan,
including the Kursangi and Garabagli fields in the Salyan district,
and the Buzovna-Mashtaga, Gala, and Zira fields on the Absheron
Peninsula. The group's portfolio includes the operating companies
Salyan Oil Limited and Taghiyev Operating Company, as well as GL
Technical Services, which provides technical services in the oil
and gas industry. As part of its first international project, GL
Group acquired a 25% stake in Canadian company Gazelle Energy
Limited, owner of a highly promising gas license in the Thrace
basin in Türkiye, in 2024.
