By  Trend

Azerbaijan's State Oil Company (SOCAR) has signed a memorandum of understanding with the Public Utilities Autonomous State Corporation (AASS) of San Marino.

The Azerbaijani Embassy in Italy said that the document, which provides for energy cooperation between the two companies, is the first step taken within the memorandum of understanding signed between the foreign ministries of the two countries during the visit by Nicola Renzi, secretary of state for foreign affairs of San Marino, to Azerbaijan in May.

The document was signed during the visit of a delegation led by SOCAR Deputy Vice President for Investment and Marketing Vitaliy Baylarbayov to San Marino.

During the visit, meetings were held with San Marino energy secretary, Marco Podeschi, and AASS President Federico Crescentini.

SOCAR is the sole producer of petroleum products in Azerbaijan owning over 370 filling stations in Georgia, Ukraine, Romania and Switzerland. It is also a co-owner of the largest Turkish petrochemical complex Petkim.