Azerbaijan seals $10bn investment deals

Azerbaijan announced the signing of investment agreements worth over $10 billion during an international forum in Baku. These include projects in the energy sector, particularly the development of the Apsheron gas and condensates field by SOCAR, along with French and Gulf companies, aiming to increase gas production by approximately 5 billion cubic meters within 3 to 4 years. Additionally, SOCAR and ExxonMobil signed a production-sharing agreement in the Central Kura Basin, with both companies holding a 50% stake each, focused on exploring unconventional resources. The goal is to boost gas exports primarily targeted at Europe and Turkey, with expectations that transmittal volumes will reach 16 million metric tons this year, with plans to increase them to 25 million tons by 2030.

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