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Akbar Novruz

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State Oil Company of the Azerbaijan Republic and Technip Energies Italy S.p.A. have signed a Memorandum of Understanding (MoU) to explore potential areas of cooperation under the Petkim Master Plan project, AzerNEWS reports.

According to SOCAR, the memorandum was signed during a meeting between SOCAR President Rovshan Najaf and Technip Energies Italy Chief Executive Officer Carlo Corsi.

During the meeting, the parties expressed satisfaction with the successful partnership established between the two companies over the years and underscored the importance of further expanding mutually beneficial cooperation by identifying new areas of collaboration.

The discussions focused on the application of production solutions with high raw material flexibility in the petrochemical sector, as well as potential cooperation aimed at increasing productivity and improving energy efficiency.

The parties also exchanged views on the prospects for Technip Energies Italy's participation in SOCAR's international projects, in addition to potential collaboration on green energy and decarbonization initiatives.