“The State Oil Company of Azerbaijan (SOCAR) plans to start the decarbonization of offshore facilities within the framework of cooperation with the Chinese company “China Energy.”
The “Report” reports that SOCAR Vice President Afgan Isayev stated this at the session titled “SOCAR’s progress in the field of decarbonization: problems and achievements” held within the framework of COP29.
It should be noted that on November 14, “SOCAR Green” and “China Energy Overseas Investment Co. Ltd.” The companies signed an agreement for the construction of a 160 MW solar power plant in Fuzuli district. Also “China Energy” and “China Datang Co. Ltd.” Memoranda were signed with companies on the development of renewable energy.
According to A. Isayev, SOCAR together with bp recently started construction of the “Shafaq” solar power plant with a capacity of 240 MW in the Jabrayil district.
“This project will be an important step towards the decarbonization of the largest oil and gas terminal in the Caspian region – the Sangachal terminal. This is the first stage of our efforts to reduce the carbon footprint. The second stage will focus on the decarbonization of marine facilities,” he stated.
In this regard, SOCAR has initiated cooperation with the “Abu Dhabi National Oil Company” (ADNOC), one of the leaders of the Charter on the decarbonization of oil and gas.
A. Isayev stressed that Azerbaijan has great potential for the development of geothermal energy. In this sense, on November 14, SOCAR signed an agreement with the company “Baker Hughes” for the development of geothermal sources: “During the drilling of geothermal wells we can find water with a temperature greater than 120 degrees, suitable for the production of electricity “If the temperature is low, the resources can be used for heating. “We have just begun this journey and will conduct research for a year to evaluate the possibilities.”
The vice president of SOCAR also announced plans to stop flaring at the Baku oil refinery by 2026. In his words, an agreement on legal obligations with “Baker Hughes” was signed at COP29.
“The elimination of gas flaring at our oil refinery will be an important achievement and a good start,” A. Isayev noted.
According to him, SOCAR carries out renewable energy projects outside Azerbaijan.
“In 2017, SOCAR Türkiye put into operation a 55 MW onshore wind power plant. In Georgia, Romania and Switzerland, the company is switching from traditional sources of energy supply to solar energy. Even in Switzerland we have started the first hydrogen project, although it is a small one. We are ready for new partnerships, we continue to learn and develop to become so,” emphasized A. Isayev.
