BAKU, Azerbaijan, December 2. SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), will collaborate with American company Schlumberger (SLB) to conduct a thorough study of the geothermal energy potential in the country’s Karabakh and Eastern Zangezur economic regions, SOCAR said in a response to Trend.
According to SOCAR, this partnership aims to expand the use of alternative and renewable energy sources in Azerbaijan, aligning with global trends in renewable energy adoption.
SOCAR publicly announced its decarbonization goals during COP28, with a focus on increasing the use of geothermal energy. During COP29, SOCAR Green and SLB signed a Memorandum of Understanding (MoU) to explore geothermal energy potential in Azerbaijan.
"A key objective in achieving our energy transition goals is the expansion of alternative and renewable energy sources. To this end, during COP29, SOCAR Green and the American company SLB signed a MoU to jointly explore Azerbaijan's geothermal energy potential. The MoU outlines a commitment to fostering collaboration in renewable energy, with a particular focus on geothermal energy.
Under the agreement, joint efforts will take place in Azerbaijan's Karabakh and East Zangezur economic regions, as well as other parts of the country. Activities will include comprehensive studies of geothermal energy potential, resource assessment, feasibility evaluations, design work, and the selection of priority areas.
This partnership is not only a significant step in advancing Azerbaijan’s green energy goals but also contributes to the broader expansion of renewable energy sources and the reduction of carbon emissions. With SLB’s extensive expertise in geothermal energy, the cooperation is expected to introduce advanced design solutions, innovative approaches, and cutting-edge technologies to help accelerate the growth of renewable energy in Azerbaijan. Additionally, the agreement will facilitate a thorough exploration and assessment of the country's geothermal energy resources.
Furthermore, this collaboration highlights SOCAR’s growing global reputation in the decarbonization efforts and underscores its pivotal role in Azerbaijan’s energy transition," the company said in its statement.
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