Kyiv proposes Baku a new gas supply scheme to Europe

On October17, President of Azerbaijan Ilham Aliyev signed a decree to abolish the State Contract Corporation - JSC "Azercontract" and to regulate the ensuing matters. According to the decree, the powers of the State Contract Corporation JSC "Azеrcontract" in the area of purchasing natural gas from producers in the domestic market of the Republic of Azerbaijan, organizing its transportation, distribution within the country, and selling to consumers will be transferred to the State Oil Company of the Azerbaijan Republic (SOCAR).

GL Group, the first private oil and gas extraction company in Azerbaijan, announced today its entry into the natural gas production market in Türkiye. According to the company's announcement, GL Group acquired a 25% stake in the Canadian company Gazelle Energy Limited, which is the 100% owner and operator of the F17-b4 license block in the Thrace Basin in northwestern Türkiye.

The State Oil Company of Azerbaijan (SOCAR) held discussions with the American company Chevron regarding decarbonization, production, and transportation. According to SOCAR's press service, the meeting took place on October 16 between the company's president Rovshan Najaf and the managing director of Chevron's Eurasian business unit, Derek Magness. During the meeting, the parties also exchanged views on strengthening mutually beneficial cooperation between the companies.

For the first time in its history, the British company BP has conducted core sampling under reservoir conditions at the Azeri-Chirag-Guneshli (ACG) block in the Azerbaijani sector of the Caspian Sea.  According to a statement from BP-Azerbaijan, the company utilized innovative technologies to carry out the core sampling operation under reservoir conditions at the ACG block.