Today, on January 31, 2025, SOCAR signed an agreement with Union Energy to acquire a 10% effective shares in the Tamar field, one of the largest offshore gas reserves in the Mediterranean Sea, SOCAR told APA.
According to the report, the Tamar field, located off the coast of Israel, is the region's main natural gas supplier and plays a significant role in energy security and economic growth.
This is SOCAR's first major investment in projects in the Mediterranean Sea.
SOCAR also emphasizes that it will continue to seek strategic assets around the world to expand its energy portfolio.
Certain conditions, including obtaining appropriate regulatory and other approvals must be met for the contract to come into effect.
