The Japan Oil, Gas and Metals National Corporation (JOGMEC) and Azerbaijan’s state oil company SOCAR will conduct joint seismic and geological research on prospective oil and gas blocks in Azerbaijan, according to the memorandum of cooperation signed May 30 as part of the 25th International Caspian Oil & Gas Exhibition and Conference in Baku May 30.
The memorandum was signed between the SOCAR President Rovnag Abdullayev and JOGMEC President Tetsuhiro Hosono.
According to the memorandum, Japan expects to receive preferential rights for exploration in Azerbaijan. The document also provides for joint development of technologies.
JOGMEC was established in 2004 through the merger of Japan National Oil Corporation and the Metal Mining Agency of Japan.
More about: Japan Azerbaijan SOCAR JOGMEC
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