SOCAR and CNOOC agreed on the implementation of joint upstream projects

The State Oil Company of Azerbaijan (SOCAR) and the China National Offshore Oil Corporation (CNOOC) have signed a Memorandum of Understanding.

As reported by BAKU.WS with reference to SOCAR, the document was signed today as part of a meeting between SOCAR President Rovshan Najaf and CNOOC Chairman Zhang Chuanjiang.

During the meeting, the parties discussed investment opportunities in the field of exploration, development, and production of offshore oil and gas reserves, oil refining, petrochemicals, cooperation opportunities in the field of international trade, as well as partnership issues for the introduction of new technologies and improvement of operational efficiency.

The document provides for the implementation of joint upstream projects in Azerbaijan and other countries, as well as the expansion of cooperation in the areas of technical services, equipment and technology supplies, engineering, operational and technical support in the oil and gas sector.

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