Azerbaijan's SOCAR Paints Innovations Boosting Its Efficiency And Cost-Effectiveness

2025-09-30 05:09:35

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 30. Innovations are helping the State Oil Company of Azerbaijan (SOCAR) become more efficient and cost-effective, SOCAR Vice President Kanan Najafov said at the INMerge Innovation Summit, organized by PASHA Holding in Baku, Trend reports.

"As a national energy company, our goal and strategic objective is to become an industry leader and create maximum value for our stakeholders. To achieve this, innovations serve as a tool for us to be more efficient, both operationally and economically, and also more environmentally friendly," Najafov explained.

He claims that SOCAR is making significant progress in two areas related to this.

"The first is a digital transformation roadmap. Our company isn't just one enterprise but hundreds. We're implementing everything from artificial intelligence to robotics and big data analytics across various business units. It's impossible to list everything, but these technologies improve both operational and environmental efficiency. Is there space for growth? Yes, absolutely. The scale is enormous, but have we begun this journey, and have we made progress? Yes, definitely," he added.

In his assessment, the subsequent domain pertains to a strategic innovation roadmap.

"Finding ideas both inside and outside the organization and debating them with academic institutions, think tanks, innovation agents, clusters, and governmental organizations are important aspects of this, which goes beyond technology. We are focused on everything that has to do with innovation," the vice president concluded.

MENAFN30092025000187011040ID1110129113

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.