SOCAR, Hungary's MOL ink MoU on exploration of Shamakhi-Gobustan field

The State Oil Company of Azerbaijan (SOCAR) and MOL Group, a Hungarian oil and gas company, today signed a Memorandum of Understanding on exploration, development, and production in the Shamakhi-Gobustan field, Report informs with reference to SOCAR.

According to the Memorandum of Understanding, the parties will cooperate to further increase hydrocarbon production in Azerbaijan.

The document was signed during a meeting between SOCAR's President Rovshan Najaf and the Chairperson of the MOL Group Zsolt Hernadi.