The State Oil Company of Azerbaijan (SOCAR) is gearing up for a major expansion in the oil, gas, and liquefied natural gas (LNG) sectors, Saria Buniyatova, advisor to the vice-president of SOCAR, said during her speech at the Baku Energy Forum, according to Report.
"We are actively developing and expanding our project portfolio in the oil and gas extraction sector," Buniyatova said. "A prime example is our recent acquisition of a 3% stake in an oil project in the United Arab Emirates. However, we have more projects in the pipeline, both in extraction and LNG."