Azerbaijan, Baku, May 26 / Trend E. Ismayilov /
The State Oil Company of Azerbaijan (SOCAR) and the National Academy of Sciences (ANAS) signed a memorandum of understanding to establish SOCAR's Scientific Fund.
The document was signed by SOCAR head Rovnag Abdullayev and ANAS president Mahmud Kerimov
It was stressed that the establishment of the fund aims to stimulate research in the oil and gas industry, natural resources, to increase the need for such operations and to adequately present Azerbaijani science in the world science.
It was also stressed that SOCAR's Scientific Fund will create the conditions for the oil and gas science to enter a qualitatively new stage, to turn oil capital in human capital and to increase the role of young scholars in the development of technical science.