SOCAR Interested in Oil, Gas Field Development in Turkmenistan

The State Oil Company of Azerbaijan Republic (SOCAR) has expressed interest in participating in oil and gas field development projects in Turkmenistan. The announcement was made by Azerbaijan’s Deputy Minister of Economy, Sahib Alekberov, during the Turkmen Investment Forum (TIF-2025), held on September 18–19 in the Avaza National Tourist Zone.

According to Alekberov, Azerbaijan is exploring a broad range of cooperation areas with Turkmenistan, including the electric power sector. He noted that, together with Uzbekistan and Kazakhstan, discussions are underway on the potential export of green electricity from Central Asia to Europe via Azerbaijani territory, Report.az reports.

Alekberov emphasized that the partnership between Azerbaijan and Turkmenistan plays a key role in the development of the East–West transport corridor and in enhancing the efficiency of the Middle Corridor. From January to July 2025, transit freight traffic between the two countries exceeded 1 million tons — a 13% increase compared to the same period last year.

SOCAR is engaged in the extraction, processing, and transportation of oil and gas; the sale of oil and petrochemical products on domestic and international markets; and the supply of natural gas to Azerbaijan’s population and industry.

In November 2023, SOCAR opened its representative office in Ashgabat, the capital of Turkmenistan.

Source of information: Business Turkmenistan