Baku: SOCAR President Rovshan Najaf recently welcomed a delegation led by Zhang Chuanjiang, Chairman of China National Offshore Oil Corporation (CNOOC). The meeting, held on September 1, marked a significant step in enhancing bilateral relations between the two corporations.
According to Azerbaijan State News Agency, the discussions between SOCAR and CNOOC encompassed a broad range of topics, including opportunities for collaboration in offshore oil and gas exploration, development, and production. The dialogue also touched upon potential investments in oil refining and petrochemical sectors, international trade collaborations, and the adoption of new technologies aimed at improving operational efficiency.
A key outcome of this meeting was the signing of a Memorandum of Understanding (MoU) between SOCAR and CNOOC. The agreement outlines plans for joint upstream projects in Azerbaijan and other regions, as well as expanded cooperation in various facets of the oil and gas industry. This includes technical services, equipment and technology supply, engineering, operations, and technical support, signifying a comprehensive approach to their partnership.