The State Oil Company of the Republic of Azerbaijan has announced plans to finalise its investment in Pakistan’s oil and gas sector in February, marking a significant step toward deeper energy cooperation between the two countries. The announcement was made by SOCAR President Rovshan Najaf during a meeting with Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on the sidelines of the World Economic Forum Annual Meeting in Davos.
Najaf described Pakistan as a natural long term energy partner, citing its large market size, rising energy demand and ongoing reforms in the oil and gas sector. He said SOCAR sees strong potential for sustainable cooperation as Pakistan moves to strengthen its energy security and modernise its regulatory framework.
SOCAR already maintains a commercial presence in Pakistan through SOCAR Trading under a government to government LNG framework with Pakistan LNG Limited. The arrangement allows SOCAR to supply up to one LNG cargo per month without take or pay obligations, providing flexibility in pricing and volumes. This agreement has been extended through 2025, reflecting continued confidence and cooperation.
In addition to LNG supplies, Najaf highlighted SOCAR’s engagement with Pakistan State Oil for the supply of petroleum products. He expressed interest in expanding collaboration across the broader oil and gas value chain, including exploration, refining, storage and downstream operations as Pakistan continues sector wide reforms.
Najaf also outlined SOCAR’s global footprint, noting that the company operates in more than 20 countries with a workforce of over 66,000 employees. SOCAR reported revenues of approximately 50.6 billion dollars in 2024 and an estimated net worth of 56.75 billion dollars in 2025, underscoring its financial strength and operational experience.
Welcoming the planned investment, Minister Aurangzeb reaffirmed the government’s commitment to attracting strategic investment in the oil and gas and mining sectors. He said reforms aimed at improving pricing transparency, contractual certainty and risk sharing would support long term private sector participation as SOCAR moves toward finalising its investment decision.
