A Memorandum of Understanding (MoU) has been signed by SAFEEN Group, a subsidiary of AD Ports Group, and the State Oil Company of Azerbaijan Republic (SOCAR) to work together on various marine and shipping projects in Azerbaijan. Situated at the intersection of Georgia, Kazakhstan, and Turkiye, Azerbaijan might potentially be a crucial site for SAFEEN Group's growth, providing a link between Central Asia and international markets.
"This MoU with SOCAR opens new avenues for prospective multifaceted synergies in the maritime and shipping sector. Azerbaijan's strategic location and SOCAR's expertise would ensure a dynamic platform for elevating maritime services, infrastructure, and logistics in the region. Furthermore, it would enable the facilitation of the further development of trade corridors in this geographically significant area," stated Ammar Al Shaiba, CEO of SAFEEN Group.
SOCAR, an entirely state-owned national oil and gas giant, produces oil and natural gas in the Caspian Sea's Azerbaijani region, playing an important role in the economic growth of Azerbaijan by transporting and marketing oil, gas, and petroleum products, as per adportsgroup.
The agreement states that both parties intend to use their individual strengths and considerable expertise to provide a wide range of marine and logistics services in order to improve the Azerbaijani maritime environment and support critical economic and strategic initiatives for both parties.
This includes shipping crude and petroleum products, infrastructure development, and freight transportation. The purpose is also to encourage onshore and offshore logistics modernization, with a focus on wind projects.
"Collaborating with SAFEEN Group offers the potential to amplify Azerbaijan's maritime capabilities. We anticipate this partnership will drive our country's maritime growth and accelerate offshore and onshore wind projects," noted Afgan Isayev, vice president of SOCAR.