Dragon Oil, Emirates National Oil Company’s (ENOC) wholly owned subsidiary, has signed a Memorandum of Understanding (MoU) with the State Oil Company of the Republic of Azerbaijan (SOCAR) and its trading arm (SOCAR Trading) to enhance cooperation in the fields of exploration, production, development, and marketing, and to explore opportunities for launching future joint projects in the oil and gas sector.
Abdulkarim Ahmed Al Mazmi, Chief Executive Officer of Dragon Oil, and Rovshan Najaf, President of SOCAR, signed the MoU in the presence of Saeed Mohammed Al Tayer, Chairman of the Board of Directors of ENOC Group and Dragon Oil, during the ADIPEC 2025 at the Dragon Oil pavilion.
Al Tayer commented: “This cooperation translates the vision of the wise leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance international partnerships and open new horizons for economic cooperation in various sectors, supporting sustainable development and the well-being of peoples.
“The relations between the UAE and the Republic of Azerbaijan represent a distinguished model of economic and investment cooperation, especially in the fields of oil, gas, and new and renewable energy. Dragon Oil is keen to enhance its cooperation with leading national companies in the region, including Turkmenistan, Azerbaijan, and the countries of the Caspian Sea basin, given the strategic importance this region holds in the global energy system due to its significant potential in the areas of production, export, and infrastructure.
“Through this cooperation, we seek to build new partnerships that enhance the sustainability of the energy sector and support the economic diversification plans of both sides.”
Al Mazmi added: “The MoU with SOCAR reflects our shared vision towards developing quality projects in the fields of exploration, production, and marketing, and exploring new cooperation opportunities in the Caspian Sea region, which is one of the most promising areas in the oil and gas sector.
“SOCAR is one of the leading companies in the region, with deep expertise spanning decades. Cooperating with it represents a strategic addition that enhances Dragon Oil’s regional presence and supports the company’s sustainable growth path.”
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