Azerbaijan Establishes SOCAR Green LLC
Date
12/28/2023 6:09:03 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 28. SOCAR Green LLC
has been established in line with the directives outlined in the
order of Azerbaijan's President Ilham Aliyev dated December 25,
2023, designating 2024 as the Green World Solidarity Year, Trend reports via the
state oil company SOCAR.
The company aims to propel the development of renewable energy
sources within the country and align with the decarbonization
objectives set by SOCAR.
This decision was announced during a meeting of the SOCAR
Supervisory Board, presided over by Mikail Jabbarov, the Minister
of Economy and Chairman of the SOCAR Supervisory Board.
The meeting focused on a comprehensive discussion of SOCAR's
activities during the first nine months of 2023. Topics covered
included progress in the development of oil and gas fields,
production metrics, advancements in renewable energy initiatives,
and measures taken toward decarbonization. The participants also
discussed the achievements in meeting corporate key performance
indicators (KPIs) for the first nine months of the current year,
and deliberated on the draft budget for 2024.
Additionally, the Supervisory Board meeting featured a
presentation on the strides made in implementing the new operating
model. Acknowledging the significant contribution of the
operational model to achieving strategic goals, the presentation
highlighted its role in enhancing SOCAR's corporate governance
processes, ensuring business sustainability, and propelling
corporate culture into a new stage of development within a short
period of time.
Follow the author on X: @Lyaman_Zeyn
MENAFN28122023000187011040ID1107664955
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.