Azerbaijan’s state oil company, SOCAR, is set to sign a landmark gas exploration agreement in Israel’s maritime territory, deepening ties between the two nations. The deal, involving British Petroleum (BP) and Israel’s NewMed Energy, will focus on drilling in Block I, northwest of Israel’s economic waters.
This marks SOCAR’s first drilling operation outside of Azerbaijan. The agreement follows delays due to the Israel-Hamas war and builds on SOCAR’s recent acquisition of a major stake in Israel’s Tamar gas field.
The partnership has significant geopolitical implications. SOCAR is a key energy supplier to both Turkey and Israel, with substantial investments in the region. Despite Turkey’s trade embargo on Israel, Azerbaijan’s oil shipments to Haifa continue via Turkish routes.
The project also raises questions about maritime boundaries, particularly with Lebanon and Cyprus, as Turkey disputes established international agreements. The deal could also open avenues for regional gas cooperation, potentially linking Israel’s energy infrastructure to Jordan, Syria, and Lebanon.
See the full story: Azerbaijan’s SOCAR & Israel To Collaborate on Gas Exploration In Israel’s Maritime
