SOCAR VP visits Milan for key financial talks

Vice President of the State Oil Company of Azerbaijan (SOCAR) Zaur Gurbanov has paid a visit to Milan.

The visit included productive meetings with the management of Intesa Sanpaolo Bank and its subsidiary, Všeobecná úverová banka, during which discussions focused on further expanding cooperative relations, Caliber.Az reports.

During the meeting, an agreement was signed between Intesa Sanpaolo Bank and SOCAR to secure financial resources.

"The visit also included meetings with existing and potential investors from Italy, during which a comprehensive presentation was delivered, providing updates on the latest developments in the financial market, SOCAR’s financial performance, credit ratings, and plans in the field of green energy," the statement read.

To recap, SOCAR, and Italy’s Eni S.p.A. have entered into a Memorandum of Understanding to collaborate on energy projects and initiatives for the energy transition.

The agreement is designed to enhance energy security, as Minister Jabbarov noted.

“The Memorandum of Understanding between SOCAR and Eni S.p.A. focuses on strengthening energy security and promoting innovative solutions within the energy sector,” the minister remarked.

By Aghakazim Guliyev