SOCAR, Samsung E&A sign energy cooperation deal

Azerbaijan’s Minister of Economy Mikayil Jabbarov held a meeting with Hong Namkoong, President and Chief Executive Officer of Samsung E&A Co., Ltd.

In a post on X, Minister Jabbarov emphasized that the meeting focused on the energy partnership and opportunities for expanding cooperation between the parties.

The minster also announced that a Memorandum of Understanding was signed between SOCAR and Samsung E&A during the meeting.

“The document envisages exploring prospects for cooperation to improve the efficiency of energy assets, localize production, establish a regional industrial center, develop human capital, and advance decarbonization,” he added.

Minister Jabbarov stressed that the execution of the agreement is of high importance for integrating local companies into global value chains.

During the meeting with Hong Namkoong, President and Chief Executive Officer of Samsung E&A Co., Ltd., we discussed the #energy partnership and opportunities to expand cooperation.

Within the framework of the meeting, a #MemorandumofUnderstanding was signed between #SOCAR… pic.twitter.com/kV68PfTdwp
— Mikayil Jabbarov (@MikayilJabbarov) February 25, 2026