The State Oil Company of the Azerbaijan Republic (SOCAR) and Technip Energies Italy S.p.A. have signed a memorandum of understanding (MoU) aimed at expanding cooperation in petrochemicals, energy efficiency and low-carbon technologies.

The agreement was signed following a meeting on July 9 between SOCAR President Rovshan Najaf and Carlo Corsi, Chief Executive Officer of Technip Energies Italy, The Caspian Post reports via SOCAR.

During the talks, the two sides praised the successful partnership they have built in recent years and emphasized the importance of broadening cooperation by identifying new areas of mutual interest.

Discussions focused on improving production efficiency and energy performance, as well as exploring potential collaboration on advanced and highly flexible production solutions for the petrochemical industry.

The parties also exchanged views on the possible involvement of Technip Energies Italy in SOCAR's international projects and discussed opportunities for cooperation in green energy and decarbonization initiatives.

The newly signed memorandum of understanding provides a framework for identifying potential areas of collaboration under the Petkim Master Plan, reinforcing the strategic partnership between SOCAR and Technip Energies as Azerbaijan advances the modernization and sustainability of its energy and petrochemical sectors.