Saudi Aramco has announced the liquidation of its subsidiary in Azerbaijan, Aramco Overseas Company Azerbaijan without indicating causes of closure, according to NeftegazRU.

Aramco Overseas Company Azerbaijan was established in 2018 with a registered capital of 10,000 €. The company operated in the field of oil and gas production, refining, and related services.

Azerbaijan and Saudi Arabia discussed the possibility of strengthening cooperation in several energy sectors, including both fields of traditional and renewable energy in February 2021.