Global Witness analysed the deals SOCAR, including SOCAR subsidiaries, either pursued or confirmed with international entities from 2019, from a variety of datasets, including Rystad Energy’s M&A Analysis Dashboard and LSEG’s Deal Tracker service, as well as trade and commodity datasets. While Global Witness did its utmost to identify all deals sought by SOCAR over the last five years, it cannot exclude the possibility that some were missed. To estimate the potential value of supply deals, Global Witness used volumes disclosed in official press releases or industry reporting of a given supply contract, then used commodity price data from the month when the deal was signed and/or national import/export data to determine a potential dollar value. For deals which extend for multiple years beyond 2024, Global Witness limited value estimation of supply deals to a duration of 12 months due to commodity price volatility. Where a dollar value for a transaction was neither disclosed by one or both companies, reported by media, or for which Global Witness was not able to reach a confident estimated figure, values have been labelled as 'unknown'. Not all deals pursued by SOCAR in 2024 were finalised; for several, negotiations are ongoing. Global Witness has included these deals because it believes there is credible evidence to suggest that SOCAR was involved in active negotiations throughout the year that Azerbaijan was COP29 host.