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About Us
Engineering Excellence in Petroleum Refining
Who we are
Binagadi Oil — Engineering Excellence in Petroleum Refining
From our very first day of operations, we have remained committed to excellence, innovation, and sustainability. Our strategic location in Baku – the historical heart of the oil and gas industry – has enabled us to expand our services across Europe, Asia, and the Middle East, making us a trusted energy partner for global clients.
Our goal is to reduce environmental impact while delivering reliable fuel products that support a cleaner, greener future for generations to come.
What We Do
Our operations focus on the refining of crude oil and the distribution of petroleum products including Diesel, Jet Fuel (JP54), Gasoline, Low Sulfur Fuel Oil (LSFO), Liquefied Petroleum Gas (LPG), Naphtha, Bitumen and Petrochemical feedstocks. We serve a broad client base, from fuel traders and energy distributors to government agencies and industrial manufacturers. Our flexible production capabilities and logistics infrastructure enable us to deliver bulk petroleum products efficiently and reliably.
Our Mission
Binagadi Oil’s mission is to be a consistent leader in petroleum exploration, production, refining and marketing, effectively utilizing the potential of existing and of newly acquired assets, and ensuring long-term, profitable growth for our business.
BINAGADI OIL FIELD
The Binagadi oil field is located in the northwestern part of the Absheron Peninsula, 9 km north of Baku, in the Binagadi oil and gas region. In the Binagadi oil and gas region, located in the northwestern part of the Absheron Peninsula, periodically active mud volcanoes (Kechal Dag, Zigilpiri, Keyraki, Boyuk Dag, Kichik Dag, etc.), various stratigraphic layers resembling a natural museum, emerging to the surface of the earth, steppe ponds, remains of fauna and flora are widespread. Here are located the Binagadi field, which has been in operation for more than 100 years, and the Girmaki, Chakhnaglar, Sulutepe, Masazir, Shabandag, Fatmayi (Sianshor and Muhammadli fields), which have been operated for 40-90 years. Currently, these fields are in the final stage of development and a large part (83.3%) of the recoverable oil reserves have been extracted. The depths of the productive layers in the area range from a few meters below the surface to 2,000 meters.
In 1891, N. Barbot-de Marni and S. Simanovich drew the first geological map of the Binagadi oil and gas region on a scale of 1:8400 and gave recommendations for their development. The first well in the “Binagadi” field was drilled in 1896 to a depth of 430 meters by mechanical method (hammering method). Oil flow was obtained from that well No. 4, which was drilled for the first time in Azerbaijan to the Diatom horizon, and later other horizons of the productive layer were involved in development. The “Binagadi” field began to be exploited on a major scale in 1913. Oil, gas and rock outcrops are widespread in the area. There are no industrially important gas layers in the field section, but associated gases extracted together with oil during the production process are recorded. From the beginning of operation until 01.01.2022, 2,2204 wells of various purposes were drilled in the field, 33 million 616 thousand tons of oil and 2 billion 351 million m³ of gas were produced. The maximum oil production in the “Binagadi” field was recorded in 1941 with 817.4 thousand tons. Currently, 315 of the 431 exploitation wells in the field are operational.
The field is operated by Binagadi Oil Company. Binagadi Oil Company operates as an operator under the “Agreement on the rehabilitation, development and production sharing of the block including the Binagadi, Girmaki, Chakhnaglar, Sulutepe, Masazir, Fatmayi, Shabandag and Sianshor oil fields in the Republic of Azerbaijan” dated September 29, 2004, concluded between SOCAR, Azen Oil Company BV and SOCAR’s Joint Oil Company. The agreement (share distribution: SOCAR ONŞ 25%, Azen Oil Company BV 75%) entered into force on September 1, 2005.