SOCAR targets net zero emissions in extraction from own sites
“Azerbaijan's state energy firm SOCAR aims to achieve net-zero carbon emissions in early 2022 in extracting oil and gas at its own sites,” SOCAR Vice President on environmental affairs Rafiga Huseynzade told Reuters.
"We have been working on that from 2010 within the framework of the World Bank's Global Gas Flaring Reduction (GGFR)," Rafiga Huseynzade said about the company's goal towards carbon neutrality.
“Carbon emissions from SOCAR's fields stood at 9% to 10% in 2012 but have declined to 2% recently.
In 2022 we will reach carbon neutrality," she said.
A company spokesman said the reduction of emissions was only related to the process of extraction of hydrocarbons. Some emissions not directly related to output will still be generated.
SOCAR produced 6.58 million tonnes of oil and 6.55 billion cubic meters (bcm) of gas in its own fields between January and October, or around a fifth of the country's total oil and gas output.
To reduce emissions, SOCAR has been shutting down mature fields, improving infrastructure and equipment.
"Thanks to the work we have done, it's possible to capture 300,000-600,000 cubic metres of natural gas, which had been effectively flared before for 20 years," Huseynzade said.
She added that SOCAR is able to increase natural gas output by up to 2 bcm per year by using ecologically friendly know-how at Neft Daslari and Gunashli shallow-water fields.
SOCAR and BP have also pledged to develop green energy, jointly work in waste management and clean industry.