Dragon Oil, SOCAR Ink MoU to Boost Caspian Energy Ties

In a major step to strengthen international energy collaborations, Dragon Oil, a wholly owned subsidiary of Emirates National Oil Company (ENOC), has signed a Memorandum of Understanding (MoU) with the State Oil Company of Azerbaijan (SOCAR) and its trading arm, SOCAR Trading.

The agreement, announced during ADIPEC 2025, sets the stage for joint initiatives in exploration, production, development, and marketing within the oil and gas sector. The MoU also aims to explore potential new projects that leverage the Caspian region’s strategic importance for global energy supply and infrastructure.

Saeed Mohammed Al Tayer, Chairman of ENOC Group and Dragon Oil, highlighted the MoU as a reflection of the UAE’s vision to enhance international partnerships and economic cooperation, reinforcing sustainable development and regional growth. He emphasized the longstanding UAE-Azerbaijan ties and the significance of the Caspian Sea basin as a hub for energy production and export.

Abdulkarim Ahmed Al Mazmi, CEO of Dragon Oil, noted that collaborating with SOCAR, a company with decades of expertise, is expected to strengthen Dragon Oil’s regional presence and open avenues for high-quality joint ventures in exploration, production, and marketing.

The partnership underscores Dragon Oil’s strategy to deepen its footprint in key international markets while contributing to the diversification and sustainability of the energy sector. By combining expertise, resources, and regional insights, both companies aim to maximize opportunities in one of the world’s most promising oil and gas regions.