SOCAR to Finalise Pakistan Oil and Gas Investment in February
The State Oil Company of the Republic of Azerbaijan SOCAR has officially announced that it is set to finalise its investment in Pakistan’s oil and gas sector in February that marks significant step toward strengthening bilateral energy cooperation between the two countries and The announcement was made by SOCAR President Rovshan Najaf during a high level business roundtable chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on the sidelines of the World Economic Forum Annual Meeting and According to an official statement that was issued on Thursday Najaf said SOCAR views Pakistan as long term energy partner citing the country’s large market that rising energy demand and ongoing reforms in the oil and gas sector.
Pakistan Viewed as Long Term Energy Partner
Najaf highlights Pakistan’s market depth and reform momentum as key factors behind SOCAR’s investment decision. He said that Azerbaijani state owned energy company was keen to expand its footprint in Pakistan and explore the opportunities across the oil and gas value chain as regulatory and commercial reform continue.
He noted that SOCAR already has a commercial presence in Pakistan through SOCAR Trading under a government-to-government liquefied natural gas framework with Pakistan LNG Limited.
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Existing LNG Framework and PSO Engagement
Under the current LNG arrangement SOCAR is able to supply up to one LNG cargo per month without take or pay obligation which offer both pricing and demand flexibility and the LNG framework has been extended into 2025 that reflect continued cooperation and mutual confidence between the two sides.
Najaf also referred to SOCAR’s engagement with Pakistan State Oil (PSO) for the supply of petroleum products and expressed interest in broadening cooperation in refining, trading, storage and other downstream and upstream segments.
SOCAR’s Global Profile
SOCAR to Finalise Pakistan Oil and Gas Investment in February that Outlining the company’s international standing Najaf said SOCAR operates in more than 20 countries and employs over 66000 people worldwide and he added that the company reported revenues of approximately $50.6 billion in 2024 with an estimated net worth of $56.75 billion in 2025.
He described SOCAR as a peer national energy company from an emerging economy with experience relevant to Pakistan’s energy market and development goal.
Government Welcome Investment
Welcoming the planned investment Finance Minister Muhammad Aurangzeb reaffirmed the government’s commitment to attracting commercially viable foreign investment in the oil, gas and mining sector and he said ongoing reforms were focused on improving pricing transparency, strengthening contractual clarity and enhancing risk sharing mechanisms to support long term private sector participation.
Aurangzeb emphasized that Pakistan aims to create a stable and predictable policy environment to unlock investment, improve energy security and reduce reliance on costly imports.
Meeting with Bill Gates at WEF
The finance minister met Microsoft co-founder and philanthropist Bill Gates on the sidelines of the WEF meeting and according to a press release discussion focused on Pakistan’s reform effort, public health priorities and cooperation with the Gates Foundation.
Aurangzeb acknowledged the Foundation’s continued role in Pakistan’s polio eradication campaign and its support in strengthening public service delivery systems and Gates stressed the need for sustained effort to eliminate polio and discussed coordination with provincial authorities.
Support for Digital Tax Reforms
The finance minister also thanked Gates for supporting the digitisation of Pakistan’s taxation system, describing it as a key pillar of domestic resource mobilisation and economic reform and Gates noted that efficient digital tax systems could significantly strengthen governance, reduce leakages and improve public service delivery.
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Focus on Fiscal Discipline and Growth
A day earlier Aurangzeb spoke at a WEF panel on global debt where he underscore importance of fiscal discipline, productive use of borrowing and export led growth and he said debt was not inherently negative if deployed efficiently and direct toward investments that generate export and long term economic returns and he added that sustainable growth depend on disciplined fiscal management, climate resilience and effective execution rather than debt availability alone.
Conclusion
SOCAR to Finalise Pakistan Oil and Gas Investment in February represents major boost for the country’s energy industry and foreign investment outlook. With expanding LNG cooperation, potential downstream and upstream partnership and renewed focus on regulatory reform Pakistan is positioning itself as an increasingly attractive destination for international energy companies.