A ceremony of signing the cooperation agreement between the State Oil Company of Azerbaijan (SOCAR) and bp has taken place at a special session titled "The Path to Zero Emissions: Potential and Opportunities of Green Energy in Karabakh Region" being held in Azerbaijan’s Shusha city [liberated from Armenian occupation in the 2020 Second Karabakh War] within the Baku Energy Week, Trend reports.
The agreement envisages the study of the potential of renewable energy sources in Azerbaijan, cooperation in this area and the implementation of joint projects.
Besides, a memorandum of understanding was signed between SOCAR and Masdar (UAE).
Within the framework of this memorandum, it’s planned to cooperate in the field of the renewable energy sector.
The purpose of signing both documents is to ensure the decarbonization of oil and gas operations and the application of advanced technologies in the field of energy efficiency and the joint development of renewable energy sources.