SOCAR: Azerbaijan strengthening position as reliable strategic partner

Azerbaijan is consistently strengthening its position as a reliable and strategically important partner for both the countries in the region and the international community, SOCAR Vice President Babak Huseynov said at the 31st Baku Energy Forum, Report informs.

"Infrastructure is considered Azerbaijan's key asset, but we are trying to discuss the prospects of Baku becoming a full-fledged hub. This means Baku's development as a center of energy engineering, operational excellence, the highest standards of offshore production and the training of highly qualified oil and technical personnel. All of this will open fundamentally new prospects for Azerbaijan.

"In addition, today we have already moved beyond a purely Azerbaijan-focused approach. SOCAR participates in international upstream projects. These include gas fields, particularly Tamar, oil fields, as well as the recently announced Baleine project in Côte d"Ivoire," Huseynov said.

He noted that SOCAR is undergoing a transformation stage: the company is shaping its international partnership strategy, diversifying its portfolio of exploration and production projects, and ensuring technology transfer through participation in foreign initiatives, which is the foundation of the company's future success.

"Upstream will no longer be determined only by the launch of new projects, but increasingly by the redevelopment of mature assets, the intelligent use of oil and gas systems, and the accelerated further development of fields already in operation. Thus, the new generation of value in the upstream sector will be formed both through new discoveries and through a new approach to existing resources. At a time when long-term energy security and diversification of supply sources are of exceptional global importance, Azerbaijan continues to establish itself as a reliable strategic partner not only for our region, but also for the global energy community," the vice president added.