Reliable Power, Predictable Rules: Unlocking Data Center Investment for Pakistan
September 28, 2026
Azerbaijan has signed investment agreements representing more than $10 billion in potential investment, alongside major energy deals involving SOCAR, TotalEnergies, XRG and ExxonMobil.
Azerbaijan has signed agreements representing more than $10 billion in potential investment at the Azerbaijan International Investment Forum in Baku, alongside a series of major energy-sector deals. The development was reported by Business Recorder and The Express Tribune, with Reuters reporting that the agreements include major projects in Azerbaijan’s oil and gas sector.
SOCAR, France’s TotalEnergies and Abu Dhabi’s XRG have reached a final investment decision on the full-field development of the Absheron gas and condensate field. TotalEnergies confirmed that the project is expected to raise Absheron’s overall gas production to 6 billion cubic metres annually, with start-up targeted for 2029.
President Ilham Aliyev said the second phase of Absheron would increase Azerbaijan’s gas production by around 5 billion cubic metres within three to four years. Azerbaijan currently exports gas mainly to Europe and Turkey, with the expansion expected to add to its production capacity.
Separately, SOCAR and US energy major ExxonMobil signed a production-sharing agreement covering the exploration, development and production of unconventional hydrocarbon resources in Azerbaijan’s Middle Kura basin. Both companies will hold a 50% stake, with ExxonMobil serving as operator.
The investment forum also highlighted Azerbaijan’s wider infrastructure ambitions. Aliyev said transit cargo volumes are expected to reach 16 million metric tons this year, with a target of 25 million tons or more by 2030. The government is also negotiating with international companies on potential data-centre and artificial intelligence projects.
“Oil and gas will continue to dominate our economy and to generate wealth which will be reinvested,” Aliyev said.
“Increase Azerbaijan’s gas production by around 5 billion cubic metres within three to four years.”
The agreements underline the scale of investment being discussed across Azerbaijan’s energy, infrastructure and technology sectors, with international companies participating in projects spanning gas development, unconventional hydrocarbons and future digital infrastructure.
