SOCAR, Chevron discuss decarbonisation, cooperation issues

The State Oil Company of the Azerbaijan Republic (SOCAR) has engaged in discussions with the US Chevron company regarding decarbonisation, extraction, and transportation. 

The meeting was held between SOCAR President Rovshan Najaf and Managing Director of Chevron’s Eurasia Business Unit Derek Magness on October 16, Caliber.Az reports via local media. 

During the meeting, both sides exchanged views on strengthening mutually beneficial cooperation between the companies.

SOCAR, the State Oil Company of Azerbaijan Republic, is a prominent state-owned enterprise responsible for the exploration, production, and distribution of oil and gas in Azerbaijan. 

Established in 1992, SOCAR plays a crucial role in the country's energy sector, overseeing a range of activities from upstream exploration to downstream refining and marketing. The company operates several key assets, including the major offshore fields in the Caspian Sea such as Gunashli and Azeri-Chirag-Gunashli, which are integral to Azerbaijan's oil production.

SOCAR is also involved in various international projects and has investments in multiple countries, reflecting its global presence.

Chevron Corporation is the US multinational energy corporation predominantly specialising in oil and gas. Chevron works to meet the world's growing demand for energy by exploring for oil and natural gas; refining and marketing gasoline; producing chemicals.

By Naila Huseynova