SOCAR reveals plans to strengthen its position among leading companies in energy sector

The State Oil Company of Azerbaijan (SOCAR) intends to strengthen its position among the leading companies in the energy sector by focusing on innovation and digital transformation, SOCAR Vice President Kanan Najafov said at the Fifth INMerge Innovation Summit, organized by PASHA Holding, Report informs.

He stated that innovation is becoming a key tool for SOCAR, helping the company not only improve operational and economic efficiency but also move toward environmental sustainability.

"As a national energy company, our strategic goal is to become an industry leader and create maximum value for our stakeholders. Innovation is a tool that allows us to be more efficient, both operationally and economically, and also to become more environmentally friendly," he noted.

The SOCAR vice president emphasized that SOCAR is implementing two key areas in this area, the first of which is related to digital transformation.

"SOCAR 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 room for growth? Yes, absolutely. The scale is enormous. Have we begun this journey and have we made progress? Yes, definitely," said Najafov.

The second area, he said, is an innovation roadmap.

"This isn't just about technology, but also about cultural change: exploring ideas within and outside the company, discussing them with universities, think tanks, innovation agents, clusters, and government agencies. Everything related to innovation is at the center of our attention," he emphasized.