Key Takeaways
- Azerbaijan exchanged multiple investment and strategic cooperation agreements during the Second Azerbaijan International Investment Forum in Baku.
- The agreements cover energy, oil and gas, technology, finance, manufacturing and international business cooperation.
- SOCAR, TotalEnergies and XRG exchanged the Final Investment Decision for the full-field development of the Absheron gas-condensate field.
Absheron Gas Field Reaches Final Investment Decision
One of the key agreements exchanged at the forum was the Final Investment Decision for the full-field development of the Absheron gas-condensate field.
The agreement was exchanged between SOCAR, XRG and TotalEnergies.
The Absheron field is located offshore Azerbaijan in the Caspian Sea, approximately 100 kilometres southeast of Baku.
According to TotalEnergies, the Full Field Development phase is planned around three deepwater wells connected through a 140-kilometre subsea multiphase pipeline to newly built onshore facilities at Sangachal.
At plateau, Phase 2 is expected to produce 12.7 million cubic metres of gas per day, equivalent to approximately 4.5 billion cubic metres annually, together with an initial 35,000 barrels per day of condensate.
The project is designed to add approximately 110,000 barrels of oil equivalent per day of production at plateau.
SOCAR Signs Multiple Energy Partnerships
The forum also saw SOCAR exchange several agreements with international energy companies and financial partners.
SOCAR and Comstock Resources signed a framework agreement on strategic partnership.
SOCAR and Apollo exchanged a memorandum of understanding covering strategic partnership for investment in upstream development and production projects.
Another memorandum between SOCAR and SEFE covers cooperation in natural gas, LNG, energy security, energy infrastructure development and upstream projects.
SOCAR also completed the transaction for acquiring a 10% ownership interest in the Baleine oil and gas field development project in Côte d'Ivoire from Italy's Eni.
ExxonMobil and Azerbaijan Expand Hydrocarbon Cooperation
SOCAR and ExxonMobil exchanged a Production Sharing Agreement covering the exploration, development and production of unconventional hydrocarbon resources in Azerbaijan's Middle Kura basin.
The agreement adds another international energy company to the list of firms involved in investment and resource-development cooperation announced at the forum.
Technology and Other Investment Agreements
The agreements were not limited to the energy sector.
SOCAR and Oracle exchanged an Oracle Alloy Agreement, while SOCAR and VNG exchanged a Strategic Cooperation Agreement.
The Azerbaijan Business Development Fund and India's UFlex Group also exchanged a tripartite joint venture agreement.
Separately, Azerbaijan's Ministry of Economy and Carlsberg Group exchanged a Strategic Partnership and Investment Framework Agreement.
The Alat Free Economic Zone Authority and Hong Kong Renteng International Trade Co. Limited also exchanged an investment agreement.
Second Azerbaijan International Investment Forum
The Second Azerbaijan International Investment Forum was held in Baku on September 25 and 26, 2026, under the patronage of Azerbaijan's President.
The forum was organized by Azerbaijan's Ministry of Economy and the Export and Investment Promotion Agency, AZPROMO, in strategic partnership with The European House - Ambrosetti.
The official forum program focused on areas including the Middle Corridor, energy and the green transition, artificial intelligence and digital transformation, infrastructure, industry and free economic zones, critical raw materials, agribusiness, financial cooperation, tourism and investment in human capital.
What the Official Record Confirms
The September 26 announcement confirms that the listed agreements were exchanged during the investment forum.
However, the official announcement does not provide a combined monetary value for all the newly exchanged agreements.
A separate Azerbaijan Ministry of Economy announcement says the first Azerbaijan International Investment Forum, held in 2025, resulted in investment agreements worth more than $10 billion, including more than $7 billion related to the non-oil sector.
That figure relates to the first forum and should not be presented as the total value of the agreements exchanged at the 2026 forum.
TwikUp's Perspective
The latest forum highlights the broad range of sectors Azerbaijan is seeking to develop through international investment and strategic partnerships.
Energy remains a major part of the announcements, particularly through the Absheron Full Field Development and agreements involving SOCAR and international energy companies. At the same time, the presence of Oracle, UFlex, Carlsberg and other companies shows that the investment agenda extends beyond hydrocarbons.
The Absheron Final Investment Decision is particularly significant for Azerbaijan's gas sector because the planned second phase would add substantial production capacity alongside the existing first phase.
For investors and businesses following Azerbaijan, the key developments to watch will be the implementation of these agreements, project financing, construction milestones and the transition from signed frameworks or agreements into operational projects.