CIOTechOutlook Team | Wednesday, 05 March 2025, 16:28 IST
The State Oil Company of Azerbaijan (SOCAR), Kazakhstan's KazMunayGas, Russia's Tatneft, and Uzbekistan's Uzbekneftegaz have signed multiple memoranda of cooperation, according to a report by Trend.
These agreements were formalized during the "Digitalization, Industrial Safety, and Procurement in the Energy Sector" conference, held in Baku. The partnership is centered on advancing digital technologies and improving industrial safety within the energy sector. According to KazMunayGas, the documents outline the exchange of expertise in the development and implementation of digital solutions, as well as measures aimed at preventing and mitigating the impact of man-made emergencies.
The participating companies also engaged in discussions on the adoption of innovative technologies, improving production safety, strengthening mutually beneficial cooperation, and promoting the sustainable growth of the oil and gas sector. KazMunayGas emphasized its commitment to expanding collaboration with key industry partners, particularly in the areas of technology and knowledge exchange, geological exploration, and hydrocarbon extraction.
Further discussions focused on enhancing industrial safety measures, integrating new technologies, and fostering long-term partnerships to ensure efficiency and sustainability in the energy sector. KazMunayGas reiterated its dedication to working closely with key stakeholders to drive technological progress and innovation in the industry.
This quadrilateral agreement marks a significant milestone in advancing technological developments and safety standards across the region’s energy sector. By fostering collaboration and innovation, the agreement lays the groundwork for future joint initiatives that will contribute to the modernization and resilience of the industry.
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