The Cabinet of Ministers has adopted a decision on the approval of government guarantees and obligations within the framework of the agreement signed between the State Oil Company of Azerbaijan (SOCAR) and the MOL company.
“Elchi” reports that Prime Minister Ali Asadov has signed the decision regarding this matter.
According to the decision, the “Guarantees and Obligations of the Government of the Republic of Azerbaijan” mentioned in the 5th annex of the signed agreement on exploration, development, and production sharing for the territory covering parts of Shamakhi, Gobustan, Absheron, Hajigabul, and Agsu districts have been approved.
The document is based on the agreement signed between SOCAR and MOL Hungarian Oil and Gas Public Limited Company on December 17, 2025, in accordance with the decree of the President of the Republic of Azerbaijan dated September 30, 2025.
The decision was adopted in accordance with the eighth paragraph of Article 119 of the Constitution.