Caspian basin remains strategic energy hub, says SOCAR VP

Azerbaijan’s oil and gas fields in the Caspian Sea continue to play a vital role in ensuring the region’s energy security, SOCAR Vice President for Development and Production Operations, Babek Huseynov, said at the SPE Caspian Technical Conference on November 25.

“Many fields in Azerbaijan, and indeed across the wider Caspian region, have been in operation for decades, yet they remain an integral part of the region’s energy security, economic stability, and future development,” Huseynov noted, according to Caliber.Az correspondent.

According to Huseynov, the Caspian basin remains one of the most technically fascinating and strategically significant regions globally. Its projects, partnerships, and workforce have historically shaped industry practices and continue to serve as models for future development.

“This year, we are proud to host more than 500 delegates from 100 companies representing over 30 countries. This demonstrates active engagement in discussions on technical and strategic issues. Your presence here reflects both local and regional commitment, as well as the international importance of this conference,” Huseynov added.

He highlighted that the early achievements, challenges, and experiences of the Caspian energy sector laid the foundation for its current success. The region’s initial development was marked by experimentation, technical breakthroughs, long-term planning, and large-scale modernisation, driven by resilience, collaboration, and the constant need to adapt.

“These early efforts remind us that our industry has evolved through multiple cycles, growing stronger with each one. Today, we are renewing our approach, which is crucial for the Caspian region where many assets are mature and require innovative solutions,” Huseynov emphasised.

To maintain and enhance asset productivity, he stressed the importance of fresh ideas, advanced technologies, new skills, and a thorough understanding of existing resources. “Innovation is key. Digital tools allow us to better understand formation characteristics, higher-quality data optimizes production, and automation and artificial intelligence ensure reliable operations. Modern production technologies at existing fields are becoming increasingly vital and are integral to our responsible practices,” Huseynov said.

He also noted that skills in digitalisation, data analysis, automation, and emissions management are increasingly essential. Developing these competencies will help the industry operate more efficiently today while preparing for future challenges.

Over the next three days, industry leaders and experts will discuss a wide array of topics, including field development, drilling management, digital transformation, decarbonization, operational efficiency, and workforce skills development.

“These discussions are critical because the Caspian region is at a turning point. With a rich history, deep technical expertise, significant assets, and rising global expectations for digital adaptation and environmental performance, this conference provides an opportunity to explore these issues collectively and identify practical steps to maintain our competitiveness,” Huseynov concluded.

By Tamilla Hasanova