The State Oil Company of Azerbaijan Republic (SOCAR), Mangalore Refinery and Petrochemicals Limited (MRPL), and Oil and Natural Gas Corporation Limited (ONGC) signed a non-binding Memorandum of Understanding (MoU) at India Energy Week 2025 to explore strategic opportunities in the energy sector.
The MoU, signed on 12 February 2025, focuses on crude oil and liquefied natural gas (LNG) supply, petroleum product trading, and knowledge exchange for capacity building.
The agreement aims to strengthen ONGC’s engagement in Azerbaijan’s oil and gas sector, particularly in the Azeri–Chirag–Gunashli (ACG) field and the Baku–Tbilisi–Ceyhan (BTC) pipeline. It will facilitate ONGC and MRPL in expanding their global energy market presence while reinforcing cooperation between India and Azerbaijan in energy security and trade.
The MoU outlines key areas of collaboration, including the sale and supply of petroleum products, exploration of trading opportunities, and enhanced cooperation in oil and gas development. The initiative aligns with India’s broader strategy of diversifying its energy sources and strengthening international partnerships in the hydrocarbon sector.
India Energy Week 2025 hosted over 20 foreign energy ministers, 90+ CEOs from global energy giants, and 70,000+ delegates from 120 countries. The event, held from February 11-14 at Yashobhoomi, New Delhi, aimed at fostering global collaboration in energy transition, supply security, and technological innovation. Over the past three years, the platform has emerged as a key global forum, bringing together policymakers, industry leaders, and investors to shape the future of energy.
