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Nobel Energy and UNG Overseas, the international platform of Uzbekneftegaz, have signed a Memorandum of Understanding (MoU) to explore strategic cooperation opportunities and the potential establishment of a joint venture in Uzbekistan.

The MoU outlines a framework for collaboration in the oil and gas, power and energy, and water infrastructure sectors, combining the strengths of both organizations to deliver integrated technical and management services in the region.

Under the proposed partnership, the parties will assess opportunities to establish a joint venture that would provide a broad range of services, including engineering, procurement and construction (EPC), operations and maintenance, asset integrity management, drilling support, supply chain management, and personnel training and competency development.

The collaboration brings together UNG Overseas' market access, local expertise, and strong relationships within Uzbekistan's energy sector with Nobel Energy's international experience and technical capabilities across engineering, EPC, operations and maintenance, supply chain management, and renewable energy solutions.

Vugar Samadli, Chief Executive Officer of Nobel Energy, commented: "This Memorandum of Understanding represents an important step in expanding Nobel Energy's presence in Central Asia. By combining our technical expertise and international experience with the local market knowledge and capabilities of UNG Overseas, we aim to create long-term value for customers and contribute to the sustainable development of Uzbekistan's energy sector."

As part of the next phase of cooperation, the parties will evaluate potential opportunities and work together to define priority areas for future collaboration in Uzbekistan.

Audubon Companies, a subsidiary of Nobel Energy and a leading provider of engineering, procurement, construction (EPC), fabrication, operations and maintenance (O&M) services, has been awarded a contract by Shell to provide engineering and procurement services for its offshore brownfield topsides projects portfolio in the US Gulf. The total installed cost of each project is expected to be up to USD 100 million.

The contract covers all of Shell’s deepwater assets in the US Gulf. Audubon will focus on operations, maintenance, and upgrade projects to improve energy production and extend productive life.

This collaboration represents another milestone in Nobel Energy Group’s international growth strategy within the global energy sector. In addition to demonstrating the Group’s strong engineering and technical services capabilities, the project marks an important step in expanding Audubon’s presence in strategic markets.

Vugar Samadli, CEO of Nobel Energy, commented: “Being selected for this project by one of the world’s leading energy companies, Shell, is a testament to our Group’s professionalism, reliability, and international experience in engineering and technical services. This collaboration not only strengthens Nobel Energy Group’s position in global energy markets but also creates a solid foundation for future growth and new partnership opportunities.”

Note to editors

Nobel Energy Group, part of NEQSOL Holding, is an Integrated Energy Production, Development and Services Company committed to contributing to the global transition towards a sustainable and low-carbon future. By leveraging trusted expertise, integrated solutions, advanced technology, strategic partnerships, and a strong focus on innovation, Nobel Energy has positioned itself as a reliable partner in delivering complex and sustainable infrastructure projects across the globe.

Nobel Energy and its sustainable energy subsidiary, Enerso, participated in a high-level meeting at the Ministry of Energy focused on advancing renewable energy development in the Nakhchivan Autonomous Republic. The meeting brought together Minister of Energy Parviz Shahbazov, representatives of “Azərenerji” OJSC, the Minister of Economy of the Nakhchivan Autonomous Republic Kazim Huseynaliyev, the State Agency for Renewable Energy Sources, Azerbaijan Green Energy Company (AGEC), and CEI Nakhchivan LLC.

During the meeting, discussions were held on the development of Nakhchivan in line with the strategic vision of the President of the Republic of Azerbaijan, Mr. Ilham Aliyev, regarding the “Green Energy Zone.” Participants reviewed measures aimed at expanding the use of renewable energy sources in the Autonomous Republic, establishing modern grid infrastructure, and strengthening the energy system. Work carried out within the energy component of the Zangezur corridor, including the integration of energy systems and the prospects for electricity exports from Nakhchivan, was also discussed. Cooperation with “CEI Nakhchivan” LLC and “Enerso” LLC on the construction of 50 MW solar power plants in Nakhchivan was assessed as an important milestone within the country’s green energy agenda.

Minister of Energy Parviz Shahbazov stated: “The broad application of renewable energy sources is one of the priority directions in the strategic course of the Head of State, aimed at strengthening the energy security of the Nakhchivan Autonomous Republic, accelerating its sustainable socio-economic development, and transforming it into a regional center for energy production and export. Currently, renewable energy sources account for 44 percent of installed electricity generation capacity and 36.4 percent of electricity production in Nakhchivan. The ‘Shams 1’ and ‘Western Horizon’ (Qərbi Üfüq) solar power plants, representing the first examples of private investment in the renewable energy sector in Nakhchivan, with a total investment value exceeding AZN 60 million, will make a significant contribution to establishing a green development model in the region.”

Eldar Mamedzadeh, Chief Commercial Officer of Nobel Energy, stated: “We are proud to align with the ‘Green Energy Zone’ initiative in Nakhchivan, reinforcing our commitment to renewable energy integration through the development of solar power plants. Nobel Energy remains dedicated to driving this transition, delivering essential infrastructure that will foster long-term sustainable economic growth across the region.”

Following the meeting, an Investment Agreement, Power Purchase Agreement, and Grid Connection Agreement were signed between the Government of the Republic of Azerbaijan, “Azərenerji” OJSC, and Enerso LLC for the 25 MW “Western Horizon” (Qərbi Üfüq) Solar Power Plant project. The Investment Agreement was signed on behalf of the Government of Azerbaijan by Minister of Energy Parviz Shahbazov, while the Power Purchaseand Grid Connection Agreements were signed by Baba Rzayev, President of “Azərenerji” OJSC.

Upon implementation, the projects are expected to generate approximately 122 million kWh of electricity annually, enabling savings of 26 million cubic meters of natural gas and reducing carbon emissions by 57,000 tons per year.

On October 28, President of the Republic of Azerbaijan Ilham Aliyev laid the foundation of the “Ufug” Solar Power Plant in Shahvalli village, the Jabrayil district — marking an important milestone in the country’s renewable energy development.

The Minister of Energy, Parviz Shahbazov, together with Nobel Energy’s Chief Commercial Officer and Director of Enerso Jabrayil LLC, Eldar Mamedzadeh, provided the President with detailed information about the 50 MW power plant.

The project represents a key element of Azerbaijan’s green energy strategy and marks the beginning of a new chapter in the energy landscape of the Jabrayil district.

The construction of the plant is being carried out by Enerso Jabrayil LLC, a renewable energy subsidiary of Nobel Energy. Once fully operational, the “Ufug” Solar Power Plant is expected to generate around 110 million kilowatt-hours of clean electricity annually — sufficient to power a moderately sized industrial facility — while significantly reducing the region’s carbon footprint. As a renewable energy source, it will contribute to lowering greenhouse gas emissions and advancing Azerbaijan’s sustainability goals.

Beyond its environmental benefits, the project will deliver significant socio-economic value. It is expected to create over 300 jobs during construction and approximately 50 permanent positions once operational — supporting local capacity-building, skills development, and broader community engagement.

The “Ufug” Solar Power Plant marks a key milestone in Azerbaijan’s clean energy transition, underscoring the country’s growing commitment to sustainable development. It advances national efforts to diversify the energy mix, strengthen energy security, and support global climate action.

Nobel Energy’s senior leadership participated in the Türkiye–Azerbaijan IV Energy Forum held in İzmir, a key event bringing together stakeholders from both countries’ energy sectors to strengthen bilateral cooperation and innovation.

Leading the company’s delegation, Vugar Samadli, CEO of Nobel Energy, was joined by Eldar Mamedzadeh, Chief Commercial Officer of Nobel Energy and Director of Enerso Jabrail LLC (Nobel Energy's sustainable energy subsidiary), and Ramal Guliyev, Chief Operating Officer of Nobel Energy. Their participation underscores the company’s commitment to advancing regional energy collaboration and innovative solutions.

The forum was inaugurated with the participation of Azerbaijan’s Minister of Energy, Parviz Shahbazov, and Türkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar. Also attending the opening session was Mukhtar Babayev, Representative of the President of Azerbaijan on Climate Issues, highlighting the strategic importance of climate and sustainability in the bilateral energy agenda.

Throughout the forum, discussions were held around the activities of joint working groups covering a wide range of sectors, including Hydrocarbons and Petrochemicals, Renewable Energy, Electricity Market, Distribution and Transmission, Regulation, Energy Efficiency, and the Mining Industry.

Since its launch in 2021, the Türkiye–Azerbaijan Energy Forum has served as a critical platform for exchanging ideas, building partnerships, and fostering innovation across the energy value chain.

Speaking about the company’s involvement, Nobel Energy CEO Vugar Samadli said: “Platforms like this are essential for creating long-term value in our industry. At Nobel Energy, we are dedicated to building partnerships that accelerate the energy transition, delivering reliable and efficient solutions to meet today’s challenges.”

With nearly two decades of experience, Nobel Energy continues to grow as an integrated energy services provider, contributing to the region’s sustainable development goals through innovative and forward-thinking practices.

We are pleased to announce that on June 2, during Baku Energy Week, Enerso Jabrayil signed several key agreements—a Power Purchase Agreement (PPA), a Transmission Connection Agreement (TCA), a Land Lease Agreement, and a Balancing Agreement. These agreements are part of the framework established under the Investment Agreement signed with the Ministry of Energy on April 4, 2025, for the development of the 50 MW ‘Ufug’ (Horizon) Solar Power Plant in the Jabrayil district.

The PPA outlines that Enerso Jabrayil will generate and supply clean electricity from the ‘Ufug’ (Horizon) Solar Power Plant to ‘Azerenerji’, which will purchase and integrate the power into the national grid as well as play a key role on electricity swap mechanism. The TCA complements this process by granting Enerso Jabrayil access to ‘Azerenerji’s’ transmission network, enabling the efficient and secure delivery of renewable electricity to end users. The Land Lease Agreement provides the legal basis for using the designated land plot required to build and operate the 50 MW ‘Ufug’ (Horizon) Solar Power Plant Project. Meanwhile, the Balancing Agreement sets out balancing arrangements for reconciling the actual and forecasted electricity flows.

The PPA and TCA agreements were signed by the Chairman of the Executive Board of “Azerenerji” OJSC, Baba Rzayev, and Chief Commercial Officer of Nobel Energy, Eldar Mamedzadeh, who is also Director of Enerso Jabrail LLC, Nobel Energy's Sustainable Energy subsidiary.

The Land Lease Agreement was signed by Minister of Energy of the Republic of Azerbaijan, Parviz Shahbazov, and Eldar Mamedzadeh, Director of Enerso Jabrayil LLC.

The Balancing Agreement was signed by the Chairman of the Executive Board of “Azerenerji” OJSC, Baba Rzayev; Deputy CEO for Strategy and Finance of Norm OJSC, Elvin Mirzayev; and Eldar Mamedzadeh, Director of Enerso Jabrayil LLC.

This milestone marks a significant advancement in Azerbaijan’s clean energy journey. The project will contribute to the diversification of the country’s energy mix, strengthen energy security, and support its broader sustainability and green transition goals – particularly in the newly liberated territories.

Eldar Mamedzadeh said, “These partnerships are a testament to our shared vision for a cleaner, more resilient energy future for Azerbaijan. The ‘Ufug’ Solar Power Plant is just the beginning, and we are excited to continue working together to create lasting positive impact for the country and its people.”

The ‘Ufug’ (Horizon) 50 MW Solar Power Plant is expected to generate approximately 110 million kilowatt-hours of clean electricity annually – enough to power a moderately scaled industrial facility – and will play a vital role in reducing carbon emissions. Beyond its environmental benefits, the project is set to create over 300 jobs during construction and around 50 permanent roles upon completion, delivering tangible socio-economic value to the region.