SOCAR and IBM sign Memorandum on Strategic Cooperation

Baku. 15 February. REPORT.AZ/ On February 15, a Memorandum on Strategic Cooperation was signed with US IBM at the headquarters of SOCAR..

Report informs referring to SOCAR, the memorandum was signed by SOCAR President Rovnag Abdullayev and Senior Vice President of IBM and the chairman of IBM Europe Erich Clementi. Memorandum envisages use of IBM's global innovations, investment in digital innovation and transformation, cooperating with IBM Watson on oil production based on artificial intelligence, creating new jobs for highly qualified personnel, as well as training and practice programs with BHOS, and conducting joint research.

Speaking at the ceremony, Mr. Abdullayev highlighted the measures taken in the field of high technology under the leadership of President of Azerbaijan Ilham Aliyev and mentioned the launch of Azerspace-1 satellite as an obvious example of this. According to Mr. Abdullayev, the Company has always given priority to innovative technologies in the global and regional energy projects carried out in Azerbaijan and has applied the latest scientific and technological achievements in the exploration, production, processing and transportation of oil and gas. Rovnag Abdullayev stated that SOCAR had established an effective partnership with the world's leading companies in this sphere. He highly appreciated the cooperation established with IBM and said that this cooperation would contribute to both SOCAR and all other companies of Azerbaijan. As he stated, Memorandum enables SOCAR to join the Watson for Upstream global strategic development partnership, running on the basis of the artificial intelligence. This strategic area of modern-day importance opens wide horizons for joint research including research projects. It was noted that Azerbaijan is known as an oil country in the world. Oil production in industrial way, processing, and transportation by tankers, railways and pipeline, as well as onshore and offshore oil production was initiated in Azerbaijan. Therefore, the rich database established at SOCAR to store and preserve these data can be a valuable source for IBM's Watson Centre. Simultaneously, the investment projects to be carried out in Azerbaijan in the framework of the memorandum will contribute to the development of innovative elite and create favourable conditions for talented young people to upgrade their skills and experience by using all the modern tools and techniques of IBM, familiarise themselves with robotisation of business and process services, and benefit from the prospects of exchange of experience and international career. The attendees also mentioned the establishment of the Regional Oil-Gas-Chemistry Competence Centre project and stated that Centre, to be established together with IBM, be of great importance in managing processes in Azerbaijan's petrochemical industry and improving engineering skills in applying innovative technologies.

Referring to the memorandum, Senior Vice President of IBM and the chairman of IBM Europe Erich Clementi estimated the starting cooperation with SOCAR as a significant event. According to him, SOCAR-IBM partnership will serve to further development of the global energy industry and provide additional stimulus the promotion of regional and global projects of Azerbaijan.

Mr. Clementi said that every year Innovation Day would be held in Baku within the framework of the signed document and the latest innovations in business will be presented. He emphasised that IBM invests only in countries it considers a strategic partner. The guest pointed out the first step taken today towards the long-term cooperation and expressed confidence in the success of the new partnership together with wishing success to SOCAR-IBM team.