In a landmark deal State Oil company of Azerbaijan SOCAR expands its footprint beyond its traditional markets.
On January 31, 2025, SOCAR signed an agreement with Union Energy to acquire a 10% effective ownership stake in the Tamar field—one of the largest offshore gas reserves in the Mediterranean.
Located off the coast of Israel, the Tamar field has been a key supplier of natural gas to the region, playing a vital role in energy security and economic growth. This acquisition marks SOCAR’s first major investment in upstream projects in the Mediterranean.
The company says it will continue seeking strategic assets worldwide to expand its energy portfolio.
This move signals SOCAR’s ambition to establish itself as a major player in global energy markets. The Tamar field is a critical asset, and SOCAR’s entry here strengthens its presence in international energy projects.
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