11:37 - 2.03.2023

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March 2, Fineko/abc.az. The Azerbaijan State Oil Company (SOCAR) and the Islamic Development Bank (IDB) discussed prospects for possible cooperation in the field of oil, gas, renewable energy sources (RES) and digitalization.

ABC.AZ reports with reference to SOCAR that a meeting was held between company’s president Rovshan Najaf and IDB Group’s president Mohammed Suleiman Al-Qasir.

At the meeting, satisfaction was expressed with the successful cooperation between Azerbaijan and IDB, the importance of the projects implemented by the bank in our country in various fields was emphasized.

In addition, information was provided on investment projects implemented by SOCAR at home and abroad, including the Southern Gas Corridor, which makes an important contribution to the energy security of Europe.

During the meeting SOCAR's long-term strategy was announced. It was noted that introduction of digital and innovative technologies, as well as development of renewable energy sources were identified as priority areas. The sides exchanged views on other issues of mutual interest.