Afgan Isayev, Vice President of SOCAR, Azerbaijan’s state oil company, outlines the ambitious plan to transition from a traditional oil and gas enterprise to a diversified energy leader by 2035. This transformation includes balancing its portfolio with both hydrocarbon and low-carbon businesses, demonstrating SOCAR’s commitment to reducing emissions and aligning with global industry leaders.
Transformation Journey
Since joining SOCAR in 2012, Isayev has been involved in numerous international projects, leading him to pivot towards decarbonization in 2018. The company has partnered with strategic global players to initiate significant renewable energy projects. These include developing 1GW in renewable energy sources, consisting of two solar and one wind project, and a 2GW offshore wind energy project aimed at producing green hydrogen.
Future Plans and Collaborations
SOCAR plans to actively participate in COP29 by hosting events and panels to discuss climate change mitigation. Isayev emphasizes the importance of collaboration with other national and international oil companies to secure a sustainable future for upcoming generations.
Through strategic partnerships and forward-thinking projects, SOCAR aims to become a leading figure in the energy transition, ensuring a balance between traditional energy and sustainable practices.
