ECONOMY5.12.2023 10:05

SOCAR President signs several agreements during COP-28 in Dubai


President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf held several meetings with heads of foreign companies within the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change - COP-28 held in Dubai, Trend reports.

At the meeting between SOCAR President and Global Chair of Boston Consulting Group (BCG) Rich Lesser, it was emphasized that the companies have successfully implemented joint projects in the field of climate change control, and emissions assessment, and considered potential opportunities for cooperation in the field of energy transition, decarbonization and digitalization.

An agreement was signed at the meeting on the implementation of a cooperation program between SOCAR and BCG.

During the visit, Rovshan Najaf met with Mohamed Jameel Al Ramahi, the CEO of Masdar (renewable energy company). They noted that joint projects will make a significant contribution to the reduction of greenhouse gas emissions, and the development of renewable energy sources in Azerbaijan, and discussed issues of expanding cooperation.

In the course of the meeting with Global Deputy Vice Chair - Sustainability at Ernst & Young Amy Brachio, the sides exchanged views on potential opportunities for cooperation in the field of renewable energy, digitalization, as well as other issues of mutual interest.

At the same time, a strategic cooperation agreement was signed between SOCAR and Abu Dhabi National Oil Company (ADNOC).

The agreement provides for further expansion of joint activities of SOCAR and ADNOC in the field of environmental protection, as well as issues of cooperation in the field of 'blue' hydrogen, geothermal energy, and carbon emissions management.

An agreement on strategic cooperation between SOCAR and Sirius International Holding (UAE investment company) was also signed within COP-28.