SOCAR and JOGMEC signed Memorandum of Cooperation


May 30, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) and the Japanese Oil, Gas & Metallurgy Corporation (JOGMEC) of the Ministry of Economy, Trade & Industry of Japan signed the Memorandum of Cooperation.

The Memo was signed within the framework of the 25th Anniversary Caspian International Oil & Gas Conference taking place in Baku currently and implies cooperation in the field of geological and geophysical research, technical cooperation, and cooperation in the field of human resources development.

Oil and gas projects of Azerbaijan are always in the focus of attention of Japanese companies. SOCAR and Japanese companies ITOCHU and INPEX have been cooperating efficiently on the basis of mutual interests for more than 20 years within the framework of the new oil strategy of Azerbaijan. The JOGMEC management representatives have repeatedly visited Azerbaijan, got acquainted with joint research work carried out by SOCAR and ITOCHU for increase of oil production at the Pirallahi field.

The Japanese National Petroleum, Gas & Metal Corporation (JOGMEC) was established in February 2004 as a result of the merger of the Japan Oil, Gas & Metals National Corporation (JNOC) and the Metal Mining Agency of Japan (MMAJ). JOGMEC provides technical and financial support to oil and gas activities of ITOCHU, INPEX and other companies abroad.