SAFEEN Group, part of AD Ports Group, the leading facilitator of global trade, logistics, and industry, has inked a Memorandum of Understanding (MoU) with the State Oil Company of Azerbaijan Republic (SOCAR) to collaborate on a number of areas across Azerbaijan’s maritime and shipping sectors, according to the company's release.
Azerbaijan, positioned strategically at a crossroads between Georgia, Kazakhstan, and Turkiye, could serve as a pivotal development area for SAFEEN Group, connecting Central Asia to global markets.
SOCAR, a fully state-owned national oil and gas giant, produces oil and natural gas in the Azerbaijani sector of the Caspian Sea. While engaging in the transportation and marketing of oil, gas, and petroleum products, they also play a crucial role in the economic development of Azerbaijan.
Under the terms of the agreement, both parties aim to leverage their respective strengths and vast experience to deliver a broad range of maritime and logistics services to elevate the Maritime landscape in Azerbaijan and support key economic and strategic projects for both parties. This includes shipping of crude and petroleum products, infrastructure development, and other cargo transportation. The intention is to also support the modernisation of onshore and offshore logistics, with a key focus on wind projects, advancing Azerbaijan’s renewable energy goals.
This MoU follows AD Ports Group and its subsidiaries’ recent ventures in the Central Asian region, driven by their strategic priority to increase the efficient transportation of energy resources to global markets, while connecting diverse regions and stimulating economic growth.