BAKU, Azerbaijan, June 1. Integration of new
technologies into existing oil and gas infrastructure and proper
allocation of capital remain key challenges for SOCAR, the
company's Deputy Vice President Hikmat Abdullayev said at panel
discussions within the framework of the 31st International Caspian
Oil and Gas Exhibition in Baku today, Trend reports.
According to him, the introduction of new technologies into the
existing oil and gas infrastructure is a complex process, as these
systems are closely interconnected and function as a "living
organism".
"Therefore, intervention in one area can affect dozens of
others, which further complicates processes, especially at
production facilities. One of the main difficulties is the correct
allocation of capital. Reducing methane emissions is of particular
importance in this regard, because methane is also a product with
economic value, and its loss creates direct financial losses," he
explained.
The SOCAR official noted that in many cases, projects aimed at
reducing methane emissions can be economically justified, since in
the long term these projects allow for the compensation of costs
due to the saved gas.
"Since methane has a greenhouse effect about 28-30 times
stronger than carbon dioxide, this direction is considered one of
the priority areas for the company. At the current stage, both
infrastructure integration and efficient investment management are
the main strategic challenges facing SOCAR," he added.
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