GL, founded on April 15, 2019, has grown significantly and transformed into a group of companies by May 1, 2024. GL Group is the first privately owned group of companies in Azerbaijan's energy industry. GL has been recognized as the partner of choice for mature conventional brownfields.
GL Group's management team consists of experts with significant international experience in the oil and gas industry. GL Group is committed to delivering excellence and creating significant value through strategic acquisitions and investments.
GL Group carries out oil and gas operations in five significant fields in Azerbaijan, namely "Kursangi" and "Garabaghli" in the Salyan district, "Buzovna-Mashtagha", "Gala", and "Zira" in the Absheron Peninsula.
In 2021, GL acquired the China National Petroleum Corporation's share in Salyan Oil Limited. In 2022, GL expanded further, acquiring three oil and gas fields from SOCAR and establishing the "Taghiyev Operating Company." In late 2022, GL founded "GL Technical Services" – a company known as GLTS primarily specializing in professional oil field services, including wireline logging and well maintenance, as well as workover rig operations services. GLTS also focuses on diversification of the business stream to include other services in the energy industry.
In the first half of 2024, GL completed the drilling of the first six new wells in the Buzovna-Mashtaga, Gala, and Zirya oil fields within the minimum mandatory work program, without incident, with zero environmental damage and in the shortest possible time. Also, in 2023, GL succeeded in halting the rate of oil production decline by more than 15% in the above-mentioned fields operated by its affiliated company Taghiyev Operating Company, and increased daily production by more than 10% compared to the beginning of the same year.
In addition, through its affiliated company Salyan Oil Limited, GL stopped the nineteen-year decline in production at Kursangi and Garabaghli oil fields and started to increase production volumes. All this has been achieved through operational efficiency programs, without major capital investment.
In 2025, GL Group is set to drill the first onshore horizontal well in Azerbaijan’s history at a depth of 4,400 meters, with a planned lateral length of approximately 400 meters, targeting deep oil reservoirs at similar depths. This horizontal well is part of a larger initiative that includes drilling three new sophisticated deep wells in the Kursangi and Garabaghli fields in the Salyan district, breaking a 14-year pause in drilling activities in these fields. In early December 2024, GL Group announced a tender for drilling services, inviting both local and international drilling companies to participate. The drilling campaign will employ new technologies, underscoring GL Group’s commitment to driving innovation and operational excellence in Azerbaijan’s oil and gas sector.
GL Group invests in the direction of acquiring existing efficient assets and optimizing their production. Thus, in October 2024, GL Group made its first international strategic move, with its entry into the upstream natural gas business in Türkiye. This made GL Group an international energy player, aligning with its strategy to become a regional mid-sized energy company.
In 2024, GL Group acquired a 25% equity stake in Gazelle Energy Limited, a Canadian company, which holds 100% ownership and is the Operator of the Thrace Basin Block F17-b4 license in northwest Türkiye. This block, spanning 145 km², is a tight gas appraisal/development play with a discovery of 65 Bcf (2P) gas reserves and potential significant upside.
GL Group is committed to excellence in the production and protection of people and the environment by adopting international standards and technologies. Anchored by a steadfast dedication to international standards and cutting-edge technology, GL Group strives for production excellence that not only meets but exceeds expectations. GL Group’s operations are guided by a rigorous Operating Management System (OMS), ensuring efficiency and innovation at every step.
