BAKU, Azerbaijan, February 15. The State Oil Company of Azerbaijan (SOCAR) set a goal to completely de-carbonize operations using a range of resources, and this program was launched this year, Vice President of SOCAR Afgan Isayev said during the forum themed "Tax system in the new development period: Strategic Goals for a Sustainable Economy" held in Baku, Trend reports.
He emphasized that SOCAR's de-carbonization program is aimed at achieving "clean net-zero" emissions by 2050.
"Simultaneously, the decarbonization program is based on investigating emission indicators, evaluating the portfolio, and undertaking a thorough analysis of actual emission reduction targets. To fulfill our goals, SOCAR leverages its own internal capabilities," the official explained.
"A full-scale decarbonization initiative for operations in important geographic areas of the company's activity has already begun. SOCAR's de-carbonization efforts encompass all segments and production assets in each geographic location where it operates," he noted.
SOCAR operates in diverse sectors, encompassing oil and gas field exploration, oil, gas, and gas condensate extraction, processing, and transportation, alongside the distribution of oil and petrochemical products in both domestic and international markets. Furthermore, the company plays a crucial role in supplying natural gas to both industrial enterprises and the general population of Azerbaijan, as well as extending its services to Europe.
Beyond Azerbaijan, SOCAR is actively involved in numerous international ventures, spanning countries such as Türkiye, Georgia, Romania, Switzerland, Germany, and Ukraine. Additionally, the company engages in significant trading operations primarily based in Switzerland, Singapore, and Nigeria.
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