The State Oil Company of Azerbaijan (SOCAR) and Uzbekistan's Uzbekneftegaz JSC have signed a Memorandum of Understanding (MoU) to strengthen cooperation in applying artificial intelligence (AI) technologies in the oil and gas industry.

In the first six months of 2024, Azerbaijan's GDP amounted to 59,520.4 billion manats ($35.012 billion), marking a 4.3% growth compared to the same period in 2023, News.Az reports citing the country’s State Statistics Committee.

Azerbaijan’s state budget saw a 51.8% growth in revenues from the non-oil and gas sector in the first quarter of 2024, surpassing the projected figure by 1.5% points, Finance Minister Samir Sharifov said.