The State Oil Company of Azerbaijan Republic (SOCAR) will become an IJF Partner for the next four years after the arrangement was completed by both parties in Budapest.

Marius Vizer, the IJF President, met with SOCAR President Rovnag Abdullayev to finalise what the governing body describes as an "important agreement".

"This partnership is very important for the development of judo worldwide and it is an outstanding opportunity for us to sign this new agreement with a top company," said Vizer, who visited Azerbaijan last month to discuss the sport in the country.

"Over the years we have already been developing strong partnerships with worldwide known companies.

"The partnership with SOCAR will help us to develop even further all of our projects, in terms of sport, with the IJF World Judo Tour, as well as in terms of education and social projects.

"With all what has been achieved over the past years in the judo world, we can witness an increase in interest from top companies to be associated with our development and we are very happy about it.“

SOCAR explores oil and gas fields across the world, in countries such as Switzerland, Turkey, Romania, Austria, Georgia, Kazakhstan, Great Britain, Iran, Germany, Ukraine, Singapore, Vietnam and Nigeria.

The company was an official partner of the first European Games, held last year in Azerbaijan's capital Baku, and is also a global partner of this year's European Football Championships in France.

Baku was a non-selected applicant city for the 2020 Olympics and Paralympics - eventually awarded to Tokyo - but Azerbaijan remains a keen pursuer of global sporting events.

That ambition will largely be funded by its oil industry, spearheaded by SOCAR.

The Baku Grand Slam, one of judo's major tournaments, is held in the country, while the city is in the frame to host the 2018 or 2019 senior-level World Championships.

“Today our commitment to the development of sports is being manifested in this important agreement," said Abdullayev.

"SOCAR is distinguished by its sustainable support for football, chess and judo in Azerbaijan and abroad.

"We view our partnership with the IJF as a vital investment in our future generations.

"Being a widespread martial art in Azerbaijan, judo is nurturing the strength of will and the strength of mind.

"It teaches us striving for perfection and victory, while preserving our humaneness.

"That’s where we recognise the foundation of our corporate values, as a company, committed to improve the well-being of our citizens, while contributing to the good of the mankind.

"And these are the purposes which our partnership agreement will serve for years to come.“

Other official partners of the IJF include OTP Bank and sportswear firm Green Hill.