The American Petroleum Institute (API) has signed a memorandum of understanding (MOU) with Azerbaijan’s state oil company, SOCAR, to collaborate on industry standards.
This has the goal of enhancing safety, environmental protection and sustainability across the industry.
“We welcome the signing of the MOU with SOCAR, bringing together our two organisations to develop standards in pursuit of our shared goals of safety and environmental protection,” API global industry services senior vice president Debra Phillips said. “Today’s signing marks the first MOU between API and SOCAR, playing a key role in connecting two major natural gas and oil markets to advance industry performance globally.”
The primary purpose of this MOU is to provide a platform to enhance cooperation and collaboration between API and SOCAR on the Implementation of API standards and best practices across all industry segments and operations in the country.
API standards are developed under an American National Standards Institute (ANSI) accredited process, ensuring that the API standards are not only technically rigorous, but also are developed using consensus, due process and balance across stakeholder interests.
API’s ANSI accreditation also facilitates acceptance of API standards by state, federal and increasingly international regulators.
API represents all segments of the US natural gas and oil industry, which supports more than 10 million jobs.
SOCAR is an integrated national natural gas and oil company established under the laws of the Republic of Azerbaijan.
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