BAKU, Azerbaijan, October 1. The State Oil Company of the Azerbaijan Republic (SOCAR) will announce its plans for geothermal energy, based on extensive research, during the COP29 events, company’s Vice-President Afgan Isayev said at the Baku Climate Action Week, TurkicWorld reports.
According to the Vice President, SOCAR committed to decarbonization and methane emissions reduction during COP28 and diligently pursues these goals by signing several essential documents throughout 2024.
"We are implementing new technologies in extraction and are already seeing significant decreases in carbon dioxide emissions," Isayev said.
He highlighted that SOCAR, in partnership with bp, is executing a distinctive "green" project—a solar power plant in Azerbaijan's Jabrayil district. The energy produced will be used to power the oil and gas terminal in Sangachal, supplying "Azerenergy."
"Our portfolio features three projects with Masdar aimed at producing 1 GW of green energy, a collaboration with ACWA Power, and several innovative initiatives with other partners. With this, SOCAR is actively demonstrating a commitment to combating climate change," Isayev concluded.
