20:43 - 2.06.2026

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June 2, Fineko/abc.az. Within the framework of the 1st Azerbaijan-US Economic Dialogue held during the Baku Energy Week, a Memorandum of Understanding was signed between the Ministry of Economy and Oracle, alongside a Strategic Cooperation Agreement between the State Oil Company of Azerbaijan (SOCAR) and Lummus Technology.

According to ABC.AZ, Azerbaijan's Minister of Economy Mikayil Jabbarov shared this information on his X social media account.

The Minister noted that the signed documents are of great importance for the country's digitalization and the adoption of modern industrial technologies.

Key objectives of the documents:

• MoU between the Ministry of Economy and Oracle: Will ensure the creation of digital infrastructure, the implementation of modern technologies, and active cooperation in the field of technology transfer in our country.

• Agreement between SOCAR and Lummus Technology: Covers joint collaboration toward the implementation of efficient solutions and industrial technologies across the oil and gas sector.