SOCAR and the US company IBM signed the Memorandum on Strategic Cooperation today.
The memorandum was signed by SOCAR President Rovnag Abdullayev and the Senior Vice President of IBM and the chairman of IBM Europe Erich Clementi.
"The Memorandum envisages use of IBM's global innovations, investment in digital innovation and transformation, cooperating with IBM Watson on oil production based on artificial intelligence, creating new jobs for highly qualified personnel, as well as training and practice programs with BHOS, and conducting joint research," SOCAR press release says.
Speaking at the ceremony, Abdullayev mentioned the establishment of the Regional Oil-Gas-Chemistry Competence Centre project and stated that Centre, to be established together with IBM, be of great importance in managing processes in Azerbaijan's petrochemical industry and improving engineering skills in applying innovative technologies.
Referring to the memorandum, Senior Vice President of IBM said that every year Innovation Day would be held in Baku within the framework of the signed document and the latest innovations in business will be presented.
Clementi said that signing the memorandum with SOCAR is the first step towards the long-term cooperation between SOCAR and IBM.
