SOCAR, QazaqGaz ink Memorandum of Understanding in Baku

President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf met with the delegation led by Sanzhar Zharkeshov, the Chairman of the Management Board of the State Company QazaqGaz, Report informs, citing SOCAR.

During the talks, the sides exchanged views on the development prospects of cooperation between SOCAR and QazaqGaz, the creation of working groups to implement the planned projects and other issues of mutual interest.

At the end of the meeting, a Memorandum of Understanding was signed between SOCAR and QazaqGaz. The document envisages the exploration and development of hydrocarbon deposits in Kazakhstan, the development of the gas-chemical field, the modernization of gas transportation, the application of innovative technologies in this sector, and the exploration of opportunities for cooperation in other important areas.

The memorandum will also serve to develop close commercial relations between the parties and increase the volume of bilateral investment and technological exchanges.