The road map was signed by SOCAR President Rovshan Najaf and general director of “Tatneft” PJSC Nail Maganov.
Baku/03.11.23/Turan: The State Oil Company of Azerbaijan (SOCAR) and the public Joint Stock Company (JSC) Tatneft of the Republic of Tatarstan, Russian Federation, have inked a cooperative roadmap, as announced by SOCAR's official website.
The signing ceremony took place in Baku during a meeting attended by Azerbaijan's Economy Minister Mikail Jabbarov, SOCAR President Rovshan Najaf, and Tatneft CEO Nail Maganov.
Key topics on the agenda during the meeting included ongoing energy sector projects and potential areas of collaboration.
"The meeting included discussions about the fruitful partnership between SOCAR and Tatneft, highlighting priority cooperation domains in the energy sector. Additionally, they explored avenues for mutual cooperation and exchanged views on other matters of shared interest. Subsequently, the President of SOCAR and the CEO of Tatneft formalized their commitment by signing a roadmap for cooperation," the statement read.
According to the press release, the cooperative roadmap encompasses various aspects of cooperation between the two companies, spanning oil and petrochemical product production, processing, and sales, as well as knowledge exchange and human capital development.
Following the signing, the Russian company's delegation paid a visit to the city of Shusha.
It is worth noting that Rovshan Najaf and Nail Maganov previously met in July 2023.
MUTUAL INTEREST AND BACKGROUND:
Since 2019, Tatneft has maintained a consistent presence in Baku for consultations.
An informed source disclosed that Tatneft boasts nearly 80 years of experience in onshore oil production, with their performance indicators showing growth. This experience suggests that SOCAR may be interested in learning from Tatneft's expertise, particularly in the rehabilitation of aging onshore fields.
Tatneft has also made substantial strides in oil refining projects, petrochemistry, and the provision of services for constructing or upgrading oil facilities. Furthermore, Tatneft can supply a diverse range of oilfield equipment, pipes, tires, and other related products to Azerbaijan.
Currently, Tatneft is engaged in the production of ultra-viscous oil and is keen on adopting new technologies, making Baku's experience a valuable resource for the company.--0--
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