The agreement envisages the study of sustainability measures in the offshore upstream activities, including CO2 emission reduction, improvement of power efficiency and associated optimization in the total cost of ownership.
Moreover, the cooperation agreement includes the evaluation of a joint pilot project for offshore energy production on a floating wind turbine.
The pilot project envisages energy supply for upstream operations in the Caspian Sea.
The company stated:
- At present, upstream operations in the Caspian Sea mainly use electricity generated from natural gas
- Among the main objectives of the pilot project is to determine the prospects for the supply of sustainable energy to the upstream sector of Azerbaijan, reduce natural gas consumption and increase gas exports
Speaking at the signing ceremony, Abdullayev emphasized that:
- Energy efficiency is in the focus of many energy companies and is an important part of SOCAR’s strategic plans
- The company’s goal is to reduce operating costs, increase energy efficiency and ensure the sustainability of operations
We have had fruitful cooperation with Technip Italy in other areas, such as the modernization of our Azerkimya petrochemical complex
I am confident that the partner company, which is interested in various new areas of cooperation in our country, such as green chemistry, digitalization and sustainable energy development, can succeed in these areas as well