What GL Group does

GL Group is Azerbaijan's first privately-owned energy group, founded on April 15, 2019 and rebranded to its current form on May 1, 2024. Headquartered in Baku with 1,001–5,000 employees, the company is an upstream oil and gas operator holding Risk Service Agreements and a Production Sharing Agreement with SOCAR across five producing fields: Kursangi and Garabaghli in the Salyan district (operated through 50%-owned Salyan Oil Limited) and Buzovna-Mastaga, Gala, and Zira on the Absheron Peninsula (operated through wholly-owned Taghiyev Operating Company). The portfolio spans thousands of historic wells (1,335 at Buzovna-Mastaga, 1,518 at Gala, 73 at Zira) with current producing wells of 135, 90, and 5 respectively.

The business model combines equity oil and gas production from Azerbaijani onshore fields with technical services revenue through wholly-owned GL Technical Services, which operates 550 HP / 100-ton and 350 HP / 60-ton workover rigs plus U.S.-manufactured cased-hole logging stations, providing well intervention, dual-string completion, production logging, cement bond analysis, and well integrity diagnostics to both affiliates and third-party operators. In October 2024 GL Group extended its footprint internationally by acquiring a 25% stake in Gazelle Energy Limited, a Canadian company holding 100% of the F17-b4 block in Turkey's Thrace Basin with 65 Bcf of 2P gas reserves across 145 km². In 2025 it spudded Azerbaijan's first onshore horizontal well at 4,400 m depth, ending a 14-year drilling hiatus.

GL Group's go-to-market is enterprise and relationship-driven, anchored by leadership drawn from bp, Exxon, SOCAR, Shell, Saudi Aramco, and Eni, and supported by participation in the Baku Energy Forum, ADIPEC, the IADC Drilling Caspian Conference, the U.S.-Azerbaijan Trade and Business Conference, and sponsorship of ADA University's Baku Summer Energy School. The company has stated pre-IPO positioning, has appointed new senior leaders for drilling, commercial/M&A, and field development through 2025–2026, and is actively exploring U.S. market entry alongside its Turkish and Azerbaijani operations.

Name

GL Group

Legal name

GL Group LLC

Website

https://gl.world

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

GL Group is Azerbaijan's first privately-owned energy group, operating five onshore oil fields through Salyan Oil Limited, Taghiyev Operating Company, and GL Technical Services, with a 25% stake in Turkey's Gazelle Energy Limited.

Ownership category

akta.pro rank

Product category

Upstream Oil & Gas Operations

NAICS

Oil and Gas Extraction (2111), Crude Petroleum Extraction (211120), Support Activities for Oil and Gas Operations (213112)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389), Drilling Oil & Gas Wells (1381)

akta.pro primary industry

Drilling & Workover Rigs (Land & Offshore) (EUALABAA)

Keywords

• Upstream oil production
• Oilfield services
• Well intervention workover
• Brownfield oilfield rehabilitation
• Geophysical well logging

Headquarters

HQ city

Baku

HQ country

Azerbaijan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Oil and Gas Production: GL Group generates primary revenue through oil and gas production from five operating oil fields in Azerbaijan: Kursangi and Garabaghli in the Salyan district, and Buzovna-Mashtaga, Gala, and Zira on the Absheron Peninsula. The company also holds a 25% stake in Gazelle Energy Limited, a Canadian company with a 100% license for the F17-b4 block in Turkey's Thrace Basin, covering 145 km² with 65 billion cubic feet (2P) of discovered gas reserves.
2. Technical Services (GL Technical Services): GLTS provides well intervention, workover, and geophysical cased-hole logging services to GL Group affiliates and third-party oil and gas companies. Revenue is generated through service contracts for well workover, production logging, cement bond analysis, and well integrity diagnostics. Services include dual-string completion operations, rotating equipment services, and specialized consulting for well productivity optimization.
3. Joint Venture Production (Salyan Oil Limited): GL Group holds 50% in Salyan Oil Limited (via GL Investment LLC), which operates the Kursangi and Garabaghli oil fields under a Rehabilitation, Exploration, Development and Production Sharing Agreement. Revenue share is based on production volumes and participating interest.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

GL Group is Azerbaijan's first privately-owned energy group, operating upstream oil and gas production across five oil fields (Kursangi, Garabaghli, Buzovna-Mastaga, Gala, and Zira) through its subsidiaries Salyan Oil Limited and Taghiyev Operating Company. Through GL Technical Services (GLTS), the company also provides specialized oilfield services including well workover, dual-string completion, cased-hole geophysical logging, cement bond analysis, and well integrity diagnostics. The group holds a 25% stake in Gazelle Energy Limited operating in Turkey's Thrace Basin.

Product overview

GL Group is Azerbaijan's first privately-owned energy group, established in 2019 and formally constituted as a group in May 2024. The company operates a vertically integrated portfolio of five subsidiary companies: GL International, GL Investment, Salyan Oil Limited (50% stake via GL Investment), Taghiyev Operating Company, and GL Technical Services. GL Group manages five oil fields in Azerbaijan—the Kursangi and Garabaghli fields in Salyan district operated by Salyan Oil Limited, and the Buzovna-Mashtaga, Gala, and Zira fields on the Absheron Peninsula operated by Taghiyev Operating Company. GL Technical Services provides specialized well intervention and wireline services across the portfolio. In 2024, GL Group expanded internationally by acquiring a 25% stake in Gazelle Energy Limited, a Canadian company operating the F17-b4 block in Turkey's Thrace Basin.

Differentiator

Problem solved

Functional benefit

Products and services

• Salyan Oil Limited Operations Upstream oil and gas production operations managing the Kursangi and Garabaghli oil fields in the Salyan district of Azerbaijan, covering approximately 450 km². Operated under a Rehabilitation, Exploration, Development and Production Sharing Agreement; GL Group holds 50% via its subsidiary GL Investment.
• Taghiyev Operating Company Operations Upstream oil and gas production operations managing the Buzovna-Mastaga, Gala, and Zira oil fields on the Absheron Peninsula, covering 2,045.04 hectares under a Risk Service Agreement with SOCAR. Includes production optimization, new well drilling, and operations management.
• GL Technical Services (GLTS) Oilfield Services Specialized oilfield services including well intervention, workover operations, dual-string completions, cased-hole geophysical logging, cement bond analysis, well deviation surveys, and well integrity diagnostics. Operates advanced 550 HP/100-ton and 350 HP/60-ton workover rigs and U.S.-manufactured geophysical logging stations for affiliated companies and third-party operators.
• Gazelle Energy Limited (Turkey Operations) International upstream gas operations in which GL Group holds a 25% equity stake. Gazelle Energy Limited is a Canadian company holding 100% of the F17-b4 block license in Turkey's Thrace Basin (145 km²) with 65 billion cubic feet (2P) of discovered gas reserves and growth potential.
• Onshore Horizontal Well Drilling Program Launched Azerbaijan's first onshore horizontal well drilling program at 4,400 meters depth with approximately 400 meters of lateral reach at the Kursangi and Garabaghli fields, marking the end of a 14-year drilling hiatus and a significant technical milestone.

Quantifiable outcome

• Over 10% increase in daily production in 2023 compared to beginning of year, preventing over 15% production decline
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Gazelle Energy LimitedcoreStrategic or Co-development Partner · 1 October 2024In October 2024, GL Group acquired a 25% equity stake in Gazelle Energy Limited, a Canadian company that is the 100% owner and operator of the F17-b4 block in Turkey's Thrace Basin. The block covers 145 km² with 65 billion cubic feet (2P) of discovered gas reserves with growth potential. This represents GL Group's first international strategic expansion as it pursues its goal of becoming a regional mid-sized energy company.
• SOCAR (State Oil Company of the Republic of Azerbaijan)coreStrategic or Co-development PartnerGL Group operates through risk service agreements and production sharing agreements with SOCAR. Through GL International LTD, GL signed a Risk Service Agreement in 2021 with SOCAR for the rehabilitation and development of the Buzovna-Mashtaga, Gala, and Zira oil fields block, leading to the establishment of Taghiyev Operating Company. GL also holds 50% in Salyan Oil Limited, which operates under a Rehabilitation, Exploration, Development and Production Sharing Agreement for the Kursangi and Garabaghli fields.
• SJPEC GroupminorStrategic or Co-development PartnerGL Technical Services signed an Exclusive Cooperation Agreement with SJPEC Group for technical services collaboration in the oil and gas sector.
• ADA University (Development and Diplomacy Institute)minorStrategic or Co-development PartnerGL Group has been a sponsor of the Baku Summer Energy School organized by ADA University's Development and Diplomacy Institute for multiple years (18th and 20th editions). The company contributes participants and supports young professionals' development in the energy sector.
• Boston Consulting Group (BCG)minorImplementation/ SI/ Consulting PartnerDuring Baku Energy Week 2026, GL Group met with BCG leadership to discuss energy sector future development, institutional potential, technical excellence, and the role of global best practices in supporting the next development phase.
• DeGolyer and MacNaughtonminorImplementation/ SI/ Consulting PartnerDuring Baku Energy Week 2026, GL Group's CEO met with DeGolyer and MacNaughton's Chairman and CEO to discuss production development, reservoir understanding, reserves evaluation, field performance, technical assessment, and the role of independent expertise in supporting responsible energy development.
• Gran Tierra EnergyminorStrategic or Co-development PartnerDuring Baku Energy Week 2026, GL Group met with Gran Tierra Energy leadership to discuss production operations, mature field development, operational efficiency, production enhancement, technical potential, and areas of mutual interest.

Scale indicators12 records

Recent moves9 records

Expansion highlights6 records

Others

• Baker Hughes: Global oilfield services and energy technology company with which GL Group has signed an MoU for collaboration. Comparable as a technology partner and regional OFS benchmark, not a direct competitor.

Direct peers

• Bahar Energy Operating Company: Azerbaijan-focused upstream operator managing mature Caspian oil and gas fields under a PSA with SOCAR. Closely comparable to GL Group's Salyan Oil and Taghiyev Operating Company affiliates in operating model, deal structure, and reservoir profile.
• Gran Tierra Energy: Calgary-based independent focused on mature field redevelopment and production optimization (notably in Colombia and Ecuador). Directly comparable to GL Group's brownfield revitalization strategy and was a meeting partner at Baku Energy Week 2026.
• Caspian Sunrise: UK-listed, Kazakhstan-focused upstream operator. Comparable to GL Group as a Caspian-region independent pursuing development of legacy Soviet-era fields with technical intervention.
• JKX Oil & Gas: Independent upstream company operating in Ukraine and the broader CIS/Caspian region with a focus on mature fields. Comparable to GL Group in operating brownfield assets in the Eastern European/Caspian corridor.
• KCA Deutag: Global drilling and workover rig operator with significant Caspian exposure. Most directly comparable to GL Technical Services' core offering of land workover rigs and drilling services.

Broad incumbents

• SOCAR (State Oil Company of the Republic of Azerbaijan): Azerbaijan's state oil company and GL Group's primary counterparty. Comparable as the dominant incumbent in the same geography, with overlapping activities in exploration, production, and refining, though far larger and state-controlled.
• Petrofac: Global oilfield services and engineering, procurement, and construction (EPC) company with significant CIS and Caspian exposure. Comparable to GL Group's GL Technical Services arm and integrated services-plus-production focus.

Regional players

• Dragon Oil: UAE-headquartered upstream operator (Energean subsidiary) with significant Caspian exposure, primarily Turkmenistan. Comparable to GL Group as a regional E&P focused on Caspian mature fields with a similar historical legacy.
• Tethys Petroleum: Independent E&P with operations in Central Asia and the Caspian region. Comparable to GL Group's geographic profile and emerging international expansion strategy beyond home markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/gllimited

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GL Group