(MENAFN- Trend News Agency)
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.
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