Baku, Azerbaijan, January 31st. SOCAR, a major oil company in Azerbaijan, signed a contract with Union Energy to acquire a 10%effective ownership of Israel’s Tamar gas.
“SOCAR continues to expand its production base beyond Azerbaijan according to the development strategy. In this context, on January 31, 2025, we signed a contract with UNION ENERGY to get a 10% stake in the Tamar project. Is the largest and most important gas field in the Mediterranean Mediterranean.
SOCAR mentioned that the contract would come into effect with the implementation of certain conditions, including the necessary regulations and other approval.
“Socar is starting an investment project in the upper part of the Mediterranean basin.
Tamar Gasfield was found in January 2009. At the end of March 2013, natural gas began to flow in Tamar Reservoir.
It is located in water about 90 km west, about 5,000 meters above sea level, and about 1,700 meters deep. This field covers an area of ​​100 square kilometers and the thickness of the reservoir is up to 300 meters. Tamar’s natural gas is extracted through six wells and is built to produce natural gas of 1.1 billion cubic feet (BCF) a day.
The reservoir is about 330 million cubic meters.
