Eni, SOCAR to expand oil and gas exploration, greenhouse gas emissions reduction in Azerbaijan
(WO) – Eni and Azerbaijan’s state energy company SOCAR have signed three Memorandums of Understanding (MoU) in the areas of energy security, greenhouse gas emissions reduction and the biofuel production chain.
The first MoU focused on the expansion of Eni and SOCAR’s cooperation on oil and gas exploration and production, with the aim of strengthening the energy security of Europe, and Italy in particular.
A second MoU envisages the cooperation of Eni and SOCAR to reduce greenhouse gas emissions and improve energy efficiency in the upstream sector in Azerbaijan, through the application of best available technologies.
These include the evaluation of carbon capture and transportation solutions from existing plants in various industrial sectors, storage and utilization in deposits in Azerbaijan (CCUS), as well as the identification of renewable energy development project opportunities.
Finally, a third MoU, to explore potential cooperation in the biofuel production chain, has been signed.
