chemXplore tracks 2 projects in Azerbaijan, of which one is active.
Of the active ones, 1 new construction.
Meeting highlighted Italy investments including an acquisition in Italiana Petroli, praised oil-refining and petrochemical partnership, and explored expanding cooperation and new joint projects.
Absheron expansion to unlock up to 5 Tcf of gas; production expected from 2029 at 600 MMcf/d and 47,000 b/d condensate, tied into the Southern Gas Corridor.
Deals cover a 50/50 PSA for unconventional hydrocarbons, Absheron FID, LNG export options for Haynesville gas, cloud operator appointment and a 10% Baleine stake.
Adds a 10% interest in the Baleine offshore field; discovered 2021, production began 2023. Project is billed as Africa’s first net‑zero offshore oil and gas development.
Agreement covers joint upstream projects in Azerbaijan and abroad and expands cooperation into refining, petrochemicals, technical services, equipment supply and new technologies.
Acquires stakes in Legacy and Western Haynesville plus a participation in Pinnacle Gas; deal valued at $1.65bn with closing targeted by Dec 31, 2026.
Portfolio concentrated into fewer countries, expected ~USD 20bn free cash flow 2026–2030; US, Brazil and Angola to drive growth; higher margins from high-grading and stepped-up exploration.
Open call for startups and tech firms to test energy transition, AI, digital and HSE solutions in real operations; applications close Sept 12, 2026.
Consolidated turnover +25% to USD 3.5bn; EBITDA +65% to USD 128.1m and net profit USD 40.4m. Petromidia shifted output toward domestic market; H2 outlook cautious.
Revenues 86.3bn manats; total profit 12.6bn and net profit ~3.0bn. EBITDA rose 26%. Major field acquisitions and a 136% jump in operating cash flow.
