XRG, SOCAR may become partners in joint investment projects - EXCLUSIVE

XRG, the international investment arm of the Abu Dhabi National Oil Company (ADNOC), is currently exploring opportunities to deepen its collaboration with the State Oil Company of Azerbaijan (SOCAR) both domestically and internationally, a well-informed source at XRG told Report.

"We are, so to speak, analyzing the prospects for joint work both in Azerbaijan and in other regions. Our relationship with SOCAR is very strong. Therefore, if we identify significant opportunities outside the country, it is highly likely that we will pursue joint investments as proven partners. Regarding domestic projects, a number of deals are currently undergoing evaluation.

Our short-term priority is to expand our presence in Azerbaijan and increase investment in the country's economy. Transactions are moving forward, and we expect them to be successful," the source said.

The source also noted that XRG expects to complete the acquisition of a 12.5% ​​stake in Southern Gas Corridor CJSC from the Azerbaijani Ministry of Economy by September 2026.