SOCAR, Eni to consider cooperation on production, gas transport and other projects

BAKU. July 31 (Interfax) - The State Oil Company of Azerbaijan Republic (SOCAR) and Italy's Eni S.p.A. have agreed to cooperate on energy projects and gas transport infrastructure, SOCAR said in a press release.

Azerbaijani Economy Minister Mikayil Jabbarov and SOCAR president Rovshan Najaf met with Eni CEO Claudio Descalzi in Baku on Tuesday.

The companies signed a memorandum of understanding after the meeting "with the goal of studying potential opportunities for cooperation on energy projects, issues regarding ensuring energy security and efficiency, reducing greenhouse gas emissions, as well as gas transport infrastructure and sustainable development," SOCAR said.

Under the memorandum, the companies will study synergies and investment opportunities in new and existing upstream projects in Azerbaijan and countries where Eni operates, as well as consider issues related to potential avenues for cooperation in the area of national and international gas transport infrastructure, projects and technologies to reduce greenhouse gas emissions and facilitate sustainable development in the energy sector.

Officials stressed at the meeting that the memorandum is consistent with the decarbonisation strategies of both companies.