A partnership with US-based Comstock Resources could open new opportunities for the State Oil Company of the Azerbaijan Republic (SOCAR) to expand its operations in the US.

SOCAR President Rovshan Najaf said he discussed the partnership with Comstock Resources President and Chief Financial Officer Roland O. Burns on the sidelines of the 2nd Azerbaijan International Investment Forum (AIIF 2026), Najaf wrote on X.

The two sides welcomed the recent signing of a Letter of Intent on strategic partnership and exchanged views on potential areas of cooperation under the agreement.

The SOCAR president said that the partnership could help the company strengthen its presence in the US energy market while diversifying its business portfolio.

"I believe that bringing together SOCAR’s international experience and Comstock Resources’ strong asset base will create a solid foundation for long-term value creation and enhanced competitiveness," Najaf wrote.

SOCAR and Comstock Resources signed the Letter of Intent on September 1, 2026, outlining plans for a strategic partnership.

Under the agreement, SOCAR will acquire a 20% interest in Comstock Legacy Haynesville upstream assets, a 15% interest in Western Haynesville upstream assets, and 15% of Comstock’s 73% stake in Pinnacle Gas Services LLC.

The agreement also provides for SOCAR’s stake in the Western Haynesville assets to be reduced from 15% to 7.5% under specified conditions after the investment reaches a 15% return.

The total transaction value, including customary purchase price adjustments, is expected to reach $1.65 billion.