Azerbaijan's GL Group gains operatorship of assets in biggest U.S. oil producing region

BAKU. July 23 (Interfax) - Azerbaijani privately owned oil and gas company GL Group has received operatorship of oil and gas assets in the biggest oil producing region of the United States.

"We completed the acquisition of upstream oil and gas assets across four producing oil and gas fields near Midland, Texas, U.S.A., comprising more than 200 active producing wells, and formally assumed 100% operatorship of the assets," GL Group said in a press release.

This transaction makes GL Group the first Azerbaijani group to own and operate producing upstream oil and gas assets in the United States, marking a historic milestone for Azerbaijan's private oil and gas sector and expanding its presence in the U.S. energy industry.

"Located within the Permian Basin, the acquired assets place us in the largest oil producing region in the United States and one of the world's principal centers of onshore oil and gas activity," GL Group said. The group did not name the other party to the deal or say how much it cost.

It said that in 2025, the basin produced approximately 6.6 million barrels of crude oil per day, representing nearly half of total U.S. production and more than 8% of global crude oil output. The basin also produced approximately 27.6 billion cubic feet of marketed natural gas per day in 2025, equal to about 23% of U.S. marketed gas production and nearly 7% of global natural gas production.

GL Group said that becoming both the owner and operator of producing assets in a basin of this scale and competitive intensity represents a significant milestone. This acquisition advances its international growth strategy following its entry into Turkey's upstream market in 2024.

"This acquisition reflects our long-term vision of building a diversified international upstream business and creates a strong platform for sustained growth in the United States," said Asif Zeynalov, our Group CEO and Chairman of the Advisory Board.

GL Group manages five oil and gas fields in Azerbaijan - Kursangi and Garabaghli in the Salyan district and Buzovna-Mashtagha, Gala and Zira on the Absheron Peninsula. The group includes operating companies Salyan Oil Limited, Taghiyev Operating Company and GL Technical Services LLC, which provides technical services in the oil and gas industry. In 2024, GL Group acquired 25% of shares in Canada's Gazelle Energy Limited, which is the license holder and operator for the development of a gas field in Turkey.