MOL and SOCAR Expand Partnership with New Onshore Oil Exploration Project in Shamakhi-Gobustan

MOL and SOCAR Expand Partnership with New Onshore Oil Exploration Project in Shamakhi-Gobustan

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Azerbaijan Steps Up Oil Exploration to Offset Depleted Azeri–Chirag–Gunashli Reserves

Against the backdrop of declining production at the Azeri–Chirag–Gunashli field, Azerbaijan has signed exploration agreements with four international companies — ExxonMobil, TPAO, MOL, and Gran Tierra. The focus is on finding new onshore and offshore resources. These agreements emerged from the country’s first open tender, in which 11 companies participated. Exploration will cover underexplored areas in the central and northern parts of the coun…