State Oil Company of Azerbaijan (SOCAR) and the Abu Dhabi National Oil Company (ADNOC) have discussed the implementation of the Absheron project and its full-scale development within the World Economic Forum in Davos, Switzerland, SOCAR President Rovshan Najaf wrote on X, Report informs.

“Engaged in a strategic dialogue with Musabbeh Al Kaabi, executive director of Low-Carbon Solutions and International Growth at ADNOC Group, during the World Economic Forum. We discussed the progress of the Absheron project, its full-scale development, as well as low carbon solutions and renewable energy resources, and explored potential opportunities for future collaboration,” he wrote.

In December last year, SOCAR and ADNOC signed an agreement on strategic cooperation. The agreement provides for further expansion of joint activities between SOCAR and ADNOC in the field of environmental protection, as well as issues of cooperation in the field of blue hydrogen, geothermal energy and carbon emission management.

In August 2023, ADNOC signed an agreement with SOCAR and the French company TotalEnergies to acquire a 30% stake in the Absheron gas condensate field.