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.