ExxonMobil and SOCAR sign 50/50 production-sharing deal in Azerbaijan

ExxonMobil and Azerbaijan's state energy company SOCAR signed a production-sharing agreement for exploration, development and production of unconventional oil and gas in the Middle Kura Basin. ExxonMobil will be the operator, with each partner holding 50% through subsidiaries. The deal builds on a June 2025 memorandum of understanding and was signed at the Azerbaijan International Investment Forum.

• Ownership split: 50% ExxonMobil, 50% SOCAR
• ExxonMobil is operator
• Area: Middle Kura Basin, unconventional oil and gas
• Follows a June 2025 memorandum of understanding