Azerbaijan’s oil and gas company SOCAR and Engineering & Technology company Technip Energies has entered a cooperation agreement to study sustainability measures in the offshore upstream activities, including CO2 emission reduction, improvement of power efficiency and associated optimisation in the total cost of ownership.
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. This would be the first case of offshore wind energy production in Azerbaijan.
“The energy efficiency is in the focus of many energy companies and is an important part of SOCAR’s strategic plans,” said Rovnag Abdullayev, SOCAR president. “In line with the development trends of technology, we are already entering this area. Our goal is to reduce operating costs, increase energy efficiency and ensure the sustainability of operations at SOCAR.”
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.