Oil & gasMarket first
Rare onshore Production Sharing Agreement
Most of Azerbaijan’s production sharing agreements cover offshore areas. We acted as Azerbaijani counsel to MOL Group on a rare onshore one: an exploration block in the Shamakhi-Gobustan region, signed with SOCAR in December 2025.
- Client
- MOL Group
- Counterparty
- SOCAR
- Interests
- MOL Group 65% (operator), SOCAR 35%
- Signed
- 17 December 2025
Why it mattered
Onshore PSAs are rare in Azerbaijan, so the agreement’s stabilisation and fiscal terms had to be aligned carefully with domestic subsoil, tax and customs law.
What we did
- Reviewed the PSA and its tax and customs annexes
- Advised on the upstream regime: subsoil use, licensing, land access and environmental rules
- Structured MOL Group’s market entry and operating presence in Azerbaijan
- Supported engagement with state authorities on implementation