Azerbaijan's SOCAR Strives To Morph Into Diversified Energy Company - Official

2025-02-07 02:07:26

(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 7. SOCAR aims to transform from a traditional oil and gas company into a diversified energy structure with a diversified portfolio in both low-carbon and conventional energy, Advisor to SOCAR President Elchin Aghakishiyev said at the IADC drilling Caspian 2025 conference and exhibition, Trend reports.

“Despite the growing demand for energy and the need to minimize environmental impact, we should not stop our activities. This implies that we must improve our operations in terms of impact, technology, and the infrastructure we use,” he said.

Aghakishiyev also stressed the importance of SOCAR's participation in various sessions organized within the framework of the 29th UN Climate Change Conference (COP29). According to him, COP29 plays a key role in the formation of future commitments of the oil and gas industry and their impact on both Azerbaijan and the global energy system.

“SOCAR aims to become a universal energy supplier, offering solutions in both conventional and alternative sources. This is an important step in ensuring sustainable energy development,” he added.

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