Through its development strategy, SOCAR continues its strategy of expanding its production base in foreign countries.

In this context, on January 31, 2025, SOCAR signed an agreement with Union Energy to acquire an effective 10 percent stake in the Tamar project, one of the largest and most important gas fields in Israel's Mediterranean basin.

Axar.az reports that SOCAR was informed about this.

It was stated that the agreement is subject to certain conditions, including obtaining appropriate regulatory and other approvals, for its entry into force.

Thus, SOCAR begins to implement investment projects in the upstream sector in the Mediterranean basin. SOCAR will continue its activities in the direction of acquiring a stake in strategic assets in foreign countries.