15:43 - 12.05.2026

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May 12, Fineko/abc.az. The Ministry of Economy and the State Oil Company of Azerbaijan (SOCAR) have signed memoranda of understanding with British company bp.

ABC.AZ reports that Economy Minister Mikayil Jabbarov wrote about this on X.

"During the meeting with bp's CEO Meg O'Neill, documents were signed between the Ministry of Economy, SOCAR, and BP Exploration (Caspian Sea) Limited,» Jabbarov wrote.

The Memorandum of Understanding on cooperation in the development of high-performance computing (HPC) infrastructure, signed between the Ministry of Economy and BP Exploration Limited, envisages leveraging bp's expertise to strengthen the Ministry of Economy's HPC infrastructure, with the aim of advancing the digital economy.

«Further, the MoU signed between BP Exploration Limited and SOCAR will expand energy cooperation between the parties and reinforce our country's position as a global energy hub,» the minister emphasized.