SOCAR, CNOOC sign memorandum on upstream cooperation

SOCAR President Rovshan Najaf met today with Zhang Chuanjiang, Chairman of China National Offshore Oil Corporation (CNOOC), Report informs.

During the meeting, the sides reviewed investment opportunities in offshore oil and gas exploration, development and production, oil refining and petrochemicals, as well as opportunities for cooperation in international trade.

They also discussed partnership in the application of new technologies and improving operational efficiency.

As part of the meeting, SOCAR and CNOOC signed a Memorandum of Understanding.

The document envisages the implementation of joint upstream projects in Azerbaijan and other countries, as well as expanding cooperation in the oil and gas sector in technical services, the supply of equipment and technologies, engineering, operations and technical support.