BAKU, Azerbaijan, September 1. The State Oil
Company of Azerbaijan (SOCAR) and China National Offshore Oil
Corporation have signed a memorandum of understanding.
This was announced in a report released by SOCAR following a
meeting between SOCAR President Rovshan Najaf and CNOOC Chairman
Zhang Chuanjiang.
During the conversation, the parties considered investment
opportunities in the exploration, development, production of
offshore oil and gas resources, oil refining, and petrochemicals,
opportunities for cooperation in international trade, and
partnership issues in the areas of application of new technologies
and increasing operational efficiency.
During the meeting, the memorandum of understanding was signed
between the companies.
The document envisages the implementation of joint upstream
projects in Azerbaijan and other countries, as well as the
expansion of cooperation in the fields of technical services,
equipment and technology supply, engineering, operations and
technical support in the oil and gas sector.
