Azerbaijan's state company SOCAR and the U.S. multinational technology company IBM established a joint venture to bring IBM's technology to the energy industry and in other sectors, SOCAR announced on Monday.
The joint venture, called the Caspian Innovation Center, was formed to build and operate a competitive analytics and delivery center to provide IT, business transformation and business consulting services in Azerbaijan, the Caspian region and other countries, the company noted.
"The SOCAR-IBM joint venture will offer its services to SOCAR and other companies in the region in order to facilitate digital business transformation and boost the efficiency of production in the energy industry and across sectors," SOCAR said.
SOCAR asserted that this will bring the best-practice processes and technology from IBM to Azerbaijan and region, adding the joint venture will set a basis for practical solutions and IT-related analytics in Azerbaijan, thus essentially contributing to the development of the human capital.
By Ebru Sengul
Anadolu Agency
energy@aa.com.tr
