17:29 - 1.10.2026

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October 1, Fineko/abc.az. The Azerbaijan State Oil Company (SOCAR) has established SOCAR Balakhani LLC in accordance with the requirements of the Agreement on the Restoration, Development and Production Sharing of the block, which includes the Balakhani-Sabunchi-Ramana and Kurdakhani fields.

The purpose of the creation of the company, registered on June 19, 2026, is to exercise its rights and obligations under SOCAR's participation as a contractor under the contract.

The new company, of which Natig Bagirov has been appointed CEO, will operate at 121 Heydar Aliyev Avenue.