The State Oil Company of the Republic of Azerbaijan (SOCAR) and Microsoft have signed a Memorandum of Understanding, Azernews reports.
The memorandum envisages cooperation in digitalization, innovation, enhancing IT infrastructure, developing human capital, including exploration, production, processing, and marketing, transportation, and cyber security.
As a result of SOCAR’s proactive initiative and effective negotiations, the collaboration with Microsoft, a global technology company, is set to create a favorable environment for an innovative excellence centre for entire country, including SOCAR. Thus, Microsoft will further expand its activities in Azerbaijan.
SOCAR`s Corporate Strategy up until 2035 defines the company’s goals and the ways for realizing them based on five crucial components: energy security, digitalization, sustainable business, efficiency and optimization, and energy transition.
In this regard, the memorandum with Microsoft becomes a key component of the company’s long-term strategy. It will make a significant contribution to modernizing the operating model, enhancing the efficient implementation of technical and technological operations, bolstering business stability, and developing highly qualified human resources through the adaptation of clean, digital, and cutting-edge technologies at SOCAR’s enterprises.