BAKU, Azerbaijan, June 2. SOCAR is transforming from an oil and gas company into a global energy and technology company, SOCAR President Rovshan Najaf said at a panel discussion on the second day of Baku Energy Week, Trend reports.
According to him, companies operating in the energy sector are transitioning from the traditional oil and gas business model to broader areas of activity, and this transformation is one of the main directions of future development.
Najaf noted that if previously companies were characterized mainly by oil and gas assets, now they have transformed into energy companies and operate in the field of oil, gas, and other energy products.
"The next stage of development for us and many companies in the energy sector is to enter the field of artificial intelligence and data centers. This is the natural direction of development of the sector. We are investing in data centers and artificial intelligence centers in order to ensure long-term and sustainable development. One of the agreements signed yesterday was related to the creation of a data center and an artificial intelligence center in Azerbaijan," he pointed out.
According to the SOCAR President, the company's activities are no longer limited to Azerbaijan, and investments made in various countries are creating conditions for its transformation into a global player.
"This is the process of SOCAR's transformation from an oil company to a diversified company combining energy, technology, and information infrastructure," he emphasized.
Najaf added that the transformation process also affects the company's human capital policy. Thus, the number of foreign specialists is currently increasing in SOCAR, which previously employed mainly local personnel, and professionals with international experience are being attracted to management positions in the company's subsidiaries in various countries.
According to him, this trend is an indicator of SOCAR's transformation into a global energy company with international human capital.
