SOCAR-IBM joint venture expected to provide services also to other oil & gas companies (Exclusive)

Oil&Gas Materials 29 November 2018 10:08 (UTC +04:00)

Baku, Azerbaijan, Nov.29

By Leman Zeynalova – Trend:

The joint venture created by IBM Corporation of the US and Azerbaijan’s state oil company SOCAR is expected to provide services also to other oil and gas companies in the future, Bahadur Ibrahimov, Managing Partner, IBM Caspian told Trend.

“Caspian Innovation Center is an IBM subsidiary in Azerbaijan, working as a service delivery center. It provides advanced IT, digital business transformation and business consulting services. Currently, the company is focused on rendering strategic outsourcing and business transformation services to SOCAR,” said Ibrahimov.

He pointed out that CIC was created by IBM and SOCAR with the vision of becoming a world-class technology and business services delivery center in Azerbaijan, operating in accordance with similar standards as other IBM Global Delivery Centers.

“In the future, the center is expected to provide its services also to other Oil & Gas industry companies and also across sectors, both in Azerbaijan and in the Caspian region. IBM Caspian, based in Baku, is the main contact point for any potential clients interested in the services provided by CIC,” he noted.

He said that CIC is set to become a competency center combining SOCAR’s oil domain and engineering skills and IBM's technology and research capabilities.

“By expanding into areas outside the Oil & Gas industry, the joint venture will enable further business advancement, diversification of the economy and growth of human capital in Azerbaijan and the Caspian Region,” said Ibrahimov.

CIC, being an IBM subsidiary company, has access to all the latest technologies, including blockchain. Any such technology may be used by CIC, if it is an integral part of the service provided by it, he added.

Further, Ibrahimov noted that the cooperation between SOCAR and IBM arose from the mutual interest of uniting SOCAR’s unique data resources with IBM’s advanced analytics and unique technologies.

“On the one hand, there is IBM - one of the leading technology companies that offers artificial intelligence elements to help find innovative solutions for industrial challenges. SOCAR, on the other hand, is a leading energy company, which inherited the most experienced hydrocarbon industry in the world,” he said.

He pointed out that since the first industrial oil production started in Azerbaijan, SOCAR operates oil and gas fields, some of them have up to 100-150 years of data record.

“Ultimately, SOCAR’s unique experience and IBM’s competencies and analytical capabilities will create synergy, which in turn will pave the way for development of digital business, while increasing the efficiency in energy sector and beyond,” said Ibrahimov.

Caspian Innovation Center LLC was registered on Dec. 22, 2017.


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