BAKU, Azerbaijan, March 2. The State Oil Company of Azerbaijan (SOCAR) and the Islamic Development Bank (IsDB) discussed the prospects for possible cooperation in the field of oil, gas, renewable energy and digitalization, Trend reports via SOCAR.

A meeting was held between the company’s President Rovshan Najaf and the President of the IsDB Group Muhammad Sulaiman Al Jasser.

At the meeting, successful cooperation between Azerbaijan and the IsDB was noted, as was importance of the projects implemented by the bank in the country in various fields was emphasized.

Besides, information was provided on investment projects implemented by SOCAR within the country and abroad, including the Southern Gas Corridor, which makes an important contribution to Europe’s energy security.

During the meeting, SOCAR’s long-term strategy was announced, and it was noted that the implementation of digital and innovative technologies, as well as the development of renewable energy sources, were identified as priority areas.

An exchange of opinions took place on other issues of mutual interest.

SOCAR is engaged in exploration of oil and gas fields, the production, processing and transportation of oil, gas and gas condensate, the sale of oil and petrochemicals in the domestic and international markets, the supply of natural gas to industrial enterprises and the population of Azerbaijan, as well as Europe.

The company conducts various activities in countries such as Türkiye, Georgia, Romania, Switzerland, Germany and Ukraine, including trading activities mainly in Switzerland, Singapore and Nigeria.

Source: TREND News Agency