Baku: Azerbaijani companies are poised to compete globally, according to Elnur Soltanov, Azerbaijan's Deputy Minister of Energy. Soltanov highlighted the export of knowledge and skills as a key indicator of the country's economic development during his speech at the 'TECHNOVATION: Science and Innovation for Sustainable Economic Transformation' conference held in Baku.

According to Azerbaijan State News Agency, Soltanov emphasized that the Azerbaijani energy sector has made significant progress in recent decades. He noted that while energy projects previously relied heavily on foreign finance and technology, Azerbaijani companies are now capable of competing on the global stage.

Soltanov also mentioned the State Oil Company of Azerbaijan Republic (SOCAR), stating that the company has expanded its operations beyond oil and gas production. SOCAR is now actively involved in refining, logistics, and energy projects not only within Azerbaijan but also in countries such as Georgia, Trkiye, and Greece.