Dragon Oil Strengthens International Partnerships By Signing MoU With SOCAR Of Azerbaijan

Dragon Oil, a subsidiary of Emirates National Oil Company (ENOC), has formalised a Memorandum of Understanding (MoU) with the State Oil Company of the Republic of Azerbaijan (SOCAR) and its trading division, SOCAR Trading. This agreement highlights Dragon Oil's dedication to expanding international partnerships and fostering global integration in the energy sector.

The MoU focuses on enhancing collaboration in exploration, production, development, and marketing within the oil and gas industry. It also aims to identify potential future joint projects. The signing took place at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025), with Saeed Mohammed Al Tayer, Chairman of ENOC Group and Dragon Oil, present.

Saeed Mohammed Al Tayer emphasised that this cooperation aligns with the vision of UAE leaders to strengthen international partnerships. He stated: "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."

Al Tayer further noted that the UAE-Azerbaijan relationship serves as a model for economic collaboration, especially in oil, gas, and renewable energy sectors. He highlighted Dragon Oil's commitment to working with regional national companies like those in Turkmenistan and Azerbaijan due to their strategic importance in global energy.

Abdulkarim Ahmed Al Mazmi, CEO of Dragon Oil, remarked on the significance of partnering with SOCAR: "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."

He acknowledged SOCAR's extensive expertise as a valuable addition to Dragon Oil's regional presence. This partnership is expected to bolster Dragon Oil's sustainable growth trajectory by leveraging SOCAR's experience.

The MoU was signed by Abdulkarim Ahmed Al Mazmi from Dragon Oil and Rovshan Najaf from SOCAR. The event was attended by members from both companies' boards along with Hussain Sultan Lootah from ENOC.

This collaboration aims to build new partnerships that support sustainability in energy while aiding economic diversification efforts for both parties involved.

With inputs from WAM