(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 3. The energy ministriesof Azerbaijan and Saudi Arabia have discussed matters ofcooperation and investment opportunities between the State OilCompany of the Azerbaijan Republic (SOCAR) and Saudi Arabiancompanies in Baku, Trend reports via the Azerbaijani ministry.
"Discussions revolved around collaborative efforts andinvestment prospects within the realms of oil refining,petrochemical product supply, low-carbon fuel, and associatedtechnologies," the report says.
The meeting concluded with the signing of the Protocol from thethird session of the Joint Technical Committee of Energy Ministriesfrom both countries.
To note, Saudi Arabia's ACWA Power entered the Azerbaijan marketin 2019.
In addition to the Khizi-Absheron WPP, ACWA Power has amemorandum of understanding with Azerbaijan's Ministry of Energy toinvestigate the feasibility of establishing a one-GW onshore windpower plant, a 1.5-GW offshore wind power plant, and thedevelopment of hydrogen projects in the nation.
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