• Home
  • ADNOC to acquire 30% equity stake in Absheron gas field
Abu Dhabi National Oil Company (ADNOC), State Oil Company of Azerbaijan (SOCAR), and TotalEnergies announced ADNOC's acquisition of a 30% stake in the Absheron gas field. ADNOC's move into the Caspian region enhances its international gas presence and UAE-Azerbaijan energy partnership. ADNOC will hold 30%, while SOCAR and TotalEnergies keep 35% each. This partnership facilitates ADNOC's entry into European and Central Asian gas markets and supports lower-carbon energy goals.

ADNOC to acquire 30% equity stake in Absheron gas field

Abu Dhabi National Oil Company (ADNOC), State Oil Company of Azerbaijan (SOCAR), and TotalEnergies announced ADNOC’s acquisition of a 30% stake in the Absheron gas field. ADNOC’s move into the Caspian region enhances its international gas presence and UAE-Azerbaijan energy partnership. ADNOC will hold 30%, while SOCAR and TotalEnergies keep 35% each. This partnership facilitates ADNOC’s entry into European and Central Asian gas markets and supports lower-carbon energy goals.

Issue:
Country:
Subscribe to Receive Latest Updates from GIF.