BAKU, Azerbaijan, June 3. There is a great interest in investments in Azerbaijan's hydrocarbon sector, the President of SOCAR, Rovshan Najaf said at the Baku Energy Forum, Trend reports.
“We have a lot of upstream projects that we have been developing for several years, as well as exploration projects. And so there is great interest in investing in Azerbaijan's hydrocarbon sector, as well as in the renewable energy production sector in Azerbaijan,” Najaf said.
The president of SOCAR noted that several documents were signed yesterday and today, which will lead to additional investments, expanding the company's project portfolio, and increasing oil and gas production in Azerbaijan, as well as renewable energy production.
“In terms of renewable energy, many countries - and perhaps all - are facing the challenge of increasing the capacity of power grids so that the electricity generated can not only be used in the domestic market, but also exported. The development of such infrastructure requires close interstate cooperation, because mass production of electricity makes sense when several countries are involved. This makes it possible to reach larger volumes,” he emphasized.