SOCAR President Rovshan Najaf has met with Zhang Chuanjiang, Chairman of China National Offshore Oil Corporation (CNOOC), as Azerbaijan and China explore new opportunities for cooperation in the energy sector.

During the meeting, the sides discussed potential investments in offshore oil and gas exploration, development and production, as well as opportunities in oil refining and petrochemicals, according to SOCAR.

The talks also covered cooperation in international energy trading, the adoption of new technologies and measures to improve operational efficiency.

Following the meeting, SOCAR and CNOOC signed a Memorandum of Understanding aimed at expanding their strategic cooperation.

The agreement provides for the development of joint upstream projects in Azerbaijan and other countries, opening the door to broader collaboration between the two energy companies.

The companies also plan to cooperate in oil and gas equipment and technology supplies, engineering, technical maintenance, and operational and technical support.