SOCAR, IBM ink long-term cooperation deal

Wed 15 February 2017 17:25 GMT | 21:25 Local Time

Text size: bigger smaller

Azerbaijan’s state oil company SOCAR and the American multinational technology company IBM agreed on long-term cooperation, SOCAR said in a message Feb. 15.

A memorandum on strategic partnership between the two companies was signed by SOCAR President Rovnag Abdullayev and IBM Senior Vice-President Erich Clementi in Baku Feb. 15, according to Trend.

“The memorandum envisages the use of IBM’s global innovations, investment in digital innovations and transformations, SOCAR’s access to the Watson artificial intelligence in oil production, as well as creation of new jobs for highly qualified personnel,” reads the message.

Under the memorandum, training programs will be organized and research will be conducted jointly with the Baku Higher Oil School.

Rovnag Abdullayev, speaking of cooperation with IBM, mentioned the project on creation of a regional gas and petrochemical competency center in Baku.

The center, to be built jointly with IBM, will play an important role in the management of petrochemical processes in Azerbaijan and will increase knowledge in the application of innovative technologies, according to him.

Clementi, in turn, noted that Innovation Day will be celebrated in Baku every year in accordance with the memorandum.

He added that signing the memorandum with SOCAR is the first step towards long-term cooperation between IBM and Azerbaijan.




Most read articles

More from Economy

In The Region

Editor Picks

Azerbaijan Cuisine

Explore the food of Azerbaijan - from sherbet to succulent kebab, from baklava to fragrant pilaff

Follow us

Find us on Facebook

Real estate