The State Oil Company of Azerbaijan (SOCAR) and Uzbekneftegaz are studying the possibility of joint exploration and production of hydrocarbons in Azerbaijan, reported from the Energy Ministry of Uzbekistan.

The ministry said that a number of areas of mutually beneficial cooperation were discussed during the meeting with SOCAR representatives on July 5.

The parties, in particular, actively cooperate in experience exchange and personnel training.

Thus, in September 2021, during a working trip to Azerbaijan, specialists from Uzbekneftegaz JSC studied the resource management system with the phased introduction of software modules, a dispatch control system, solutions in the field of work automation, monitoring and control of production processes in SOCAR.

At present, a visit of SOCAR specialists to the gas chemical complexes of Uzbekneftegaz is being worked out to organize training in the advanced processing of hydrocarbons.

During the meeting, SOCAR representatives declared their readiness to accept ten specialists of Uzbekneftegaz JSC for advanced training at SOCAR facilities and to allocate scholarships for two employees to study in the master's program at the SOCAR Higher School.

During the discussion, an agreement was reached to intensify work on opening a trading house in Dubai, which will allow both parties to enter new markets more actively.

Decisions were also made to establish an exchange of experience with SOCAR in the preparation and implementation of large projects for the generation of renewable energy based on public-private partnerships, as well as holding relevant tenders.

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