Detailed discussions were held between the State Oil Company of Azerbaijan (SOCAR) and “GL Group” regarding the planned operational and investment activities for this year in the “Kürsəngi”, “Qarabağlı”, “Buzovna-Maştağa”, “Qala”, and “Zirə” oil and gas fields. This was reported citing “GL Group”.
The discussions took place during the next meeting of the Steering Committee, attended by the leadership of both companies. The meeting reviewed the 2025 work program and budget execution status for the “Kürsəngi” and “Qarabağlı” fields operated by “Salyan Oil Ltd”, as well as the “Buzovna-Maştağa”, “Qala”, and “Zirə” fields operated by “Taghiyev Operating Company” MMC, along with an analysis of the proposed programs and budgets for 2026.
The meeting, co-chaired by Asif Zeynalov, CEO and Chairman of the Advisory Board of “GL Group”, and Babək Hüseynov, Vice President of SOCAR, also evaluated the work carried out in the agreement areas.
During the meeting, participants conducted site visits to the 6th section of the “Qarabağlı” field operated by “Salyan Oil Ltd”, a newly commissioned oil well in the “Kürsəngi” field, and a well currently under drilling.
The meeting is regarded as an important step in the development of strategic partnership between SOCAR and “GL Group”, increasing production efficiency, and ensuring the sustainable progress of joint projects.
It should be recalled that “GL Group” operates in five oil and gas fields in Azerbaijan: “Kürsəngi” and “Qarabağlı” in the Salyan district, and “Buzovna-Maştağa”, “Qala”, and “Zirə” on the Absheron Peninsula. The group’s structure 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 sector.
In 2024, “GL Group” expanded its international activities by acquiring a 25% stake in “Gazelle Energy Limited”, a Canadian company holding 100% interest in a promising gas field in Türkiye’s Thrace Basin.
The “Kürsəngi” and “Qarabağlı” fields are located in the Kura Depression and have been in production since 1962 and 1960, respectively. The production sharing agreement for rehabilitation, exploration, development, and production sharing for the block including these fields was signed on December 15, 1998, between SOCAR, Frontera Resources, and Delta/Hess Ltd., and entered into force on April 22, 1999. “Salyan Oil Ltd.” was established as the operating company. Since 2002, the agreement interests have been under the control of China National Offshore Oil Corporation (CNODC). The block covers an area of 450 km², and a total of 808 wells have been drilled during the development period — 494 in “Kürsəngi” and 314 in “Qarabağlı”.
These discussions are of significant importance for optimizing production and increasing investment attractiveness in Azerbaijan’s onshore fields.
https://report.az/energetika/azerbaycanda-bu-il-ucun-4-neft-yatagi-uzre-investisiya-imkanlari-muzakire-olunub