BAKU, Azerbaijan, June 7. State Oil Company of Azerbaijan Republic (SOCAR) has certified the oil and gas production emissions under the Upstream Emission Reduction (UER) project, for the first time, Trend reports with reference to SOCAR.
SOCAR noted that this project has created conditions for additional economic benefits, together with a significant reduction in emissions from the oil and gas sector.
UER mechanism is an effective tool for achieving significant reductions in greenhouse gas emissions in the oil and gas production chain.
Oil and gas suppliers implement UER projects, under the Fuel Quality Directive (FQD) of the EU, aimed to reduce emissions during operation, also minimizing their impact on the environment and receive appropriate certificates for this.
UER certificates resulting from this process can then be sold to energy suppliers as a means for these companies to achieve their emission reduction objectives.
According to SOCAR, a Memorandum of Understanding was signed on the implementation of the Leak Detection and Repair (LDAR) pilot project in cooperation with the Norwegian company Carbon Limits in SOCAR's areas of operation, on May 11, 2018.
Monitoring was carried out at the "Bibiheybatneft" Oil and Gas Production Department (OGPD), "Azneft" Production Union, OGPD named after H.Z.Taghiyev, OGDP named after N. Narimanov, and "Absheronneft" OGPD, sources of leaks were identified and measures were taken to eliminate them, as part of the project.
As a result of the project, the equivalent of 14,500 tonnes of CO2 was certified and implemented accordingly. As a result of the implementation of the project, SOCAR has received a profit of three million manat.
Emissions of 14,500 tonnes of CO2 equivalent were certified and implemented accordingly, throughout the project. SOCAR received a profit of 3 million manat ($1.7 million) as a result of the project.