Italiana Petroli Chairman Spells Out Partnership With SOCAR Promising

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 23.​ Azerbaijan and the State Oil Company of Azerbaijan (SOCAR) have the potential to attract new investments, modern approaches, and valuable experience to both Azerbaijan and Italy, Ugo Brachetti Peretti, Chairman of the Board of Italiana Petroli S.p.A., told Trend .

Speaking on the sidelines of the second day of the 1st Azerbaijan International Investment Forum in Baku, Peretti highlighted his company's long-standing experience.

"As Italiana Petroli S.p.A, our main contribution comes from decades of successful operations. As the first oil company in Italy, we have gained extensive expertise in retail, refining, and logistics. I believe that Azerbaijan and SOCAR can bring new investments, modern approaches, and valuable experience to our country and Italy as a whole," he stated.

Peretti also expressed satisfaction with the collaboration, noting Azerbaijan's strategic importance in the Mediterranean region for gas, crude oil, and petroleum product production.

"Azerbaijan is one of the key countries in the region, with significant credibility and influence in this sector. We are very pleased to establish this cooperation with Azerbaijan," he added.

During the forum, a tripartite share purchase agreement was signed between SOCAR, Italiana Petroli S.p.A., and MIP S.p.A. The agreement was signed by SOCAR President Rovshan Najaf and Peretti, marking an important step in deepening international cooperation in Azerbaijan's energy sector and expanding SOCAR's strategic partnerships.

To note, the State Oil Company of Azerbaijan (SOCAR) has signed a tripartite share purchase agreement with Italiana Petroli S.p.A and MIP S.p.A..

The signing took place in Baku during the second day of the 1st Azerbaijan International Investment Forum.

The agreement was signed by SOCAR President Rovshan Najaf and Chairman of the Board of Italiana Petroli S.p.A Ugo Brachetti Peretti.

The agreement is pivotal for enhancing transnational collaboration within Azerbaijan's energy domain and for broadening SOCAR's strategic alliances.

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