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 Purchase and 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.