SOCAR may confirm new strategic dev't plan in September 2020

29 July 2020 18:26 (UTC+04:00)

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The preparation of a new strategic plan for the development of Azerbaijan’s State Oil Company (SOCAR), which will cover the period until 2035, is scheduled to be complete until September this year, the company’s Vice-President Khalig Mammadov said.

Mammadov made the remark at the online meeting in SOCAR on human resources (HR) management, Trend reports.

According to the vice-president, the new strategic development plan is elaborated by McKinsey consulting company.

“In the recent 10 years, we succeeded in digitizing almost all of the company's data and today we are seeing the results,” he said.

According to him, changes in the oil and gas sector and new time requirements set new goals for energy companies. SOCAR will also develop its activities in the field of chemistry, exploration, production, digital technologies and artificial intelligence as part of the new development strategy.

“We have also implemented a pilot project of using artificial intelligence in drilling wells and the company is not going to stop on this and will continue to develop,” Mammadov added.

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