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.