Davos, January 22, 2026 — Azerbaijan’s State Oil Company (SOCAR) has announced plans to finalize its investment in Pakistan’s oil and gas sector by February 2026. The announcement was made during a high‑level business roundtable chaired by Finance Minister Senator Muhammad Aurangzeb at the World Economic Forum (WEF) in Davos.
Key Highlights
- SOCAR President Rovshan Najaf confirmed Pakistan as a long‑term energy partner, citing strong market demand and ongoing energy reforms.
- SOCAR Trading continues to supply LNG to Pakistan LNG Limited under a G2G framework, offering flexible arrangements without take‑or‑pay obligations.
- Cooperation with Pakistan State Oil (PSO) is expanding, with interest in petroleum product supply and broader oil and gas value chain engagement.
SOCAR’s Global Profile
- Operations in 20+ countries with a workforce of 66,000 employees.
- Reported revenues of USD 50.6 billion (2024) and net worth of USD 56.75 billion (2025).
- Recognized as a peer national energy company from an emerging economy, positioning SOCAR as a credible partner for Pakistan’s energy sector.
Pakistan’s Perspective
Finance Minister Aurangzeb welcomed SOCAR’s planned investment, emphasizing the government’s commitment to attracting foreign direct investment (FDI) in oil, gas, and mining. He highlighted reforms focused on pricing transparency, contractual clarity, and risk‑sharing mechanisms to encourage private‑sector participation.
Market Impact
- Energy Security: Flexible LNG supply strengthens Pakistan’s resilience.
- Consumer Benefit: Transparent pricing and reduced risk of supply disruptions.
- Investor Confidence: SOCAR’s move signals growing trust in Pakistan’s reform direction.
Official Source
For full details, see the official Government of Pakistan press release
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