SOCAR Discusses Carbon Capture And Geothermal Opportunities With DeGolyer And MacNaughton November 28, 2024

December 11, 2024

SOCAR Discusses Carbon Capture And Geothermal Opportunities With DeGolyer And MacNaughton

U.S. company DeGolyer and MacNaughton met with the State Oil Company of Azerbaijan (SOCAR) representatives and discussed potential opportunities to work together on carbon capture and geothermal projects.

SOCAR and DeGolyer and MacNaughton have an already established partnership for field development and determining reserves and their meeting follows COP29 which was held in Baku.

DeGolyer and MacNaughton is an independent oil industry consultancy with a focus on resources assessments, reserves consulting, reservoir modeling, geologic and petrophysical analyses.

This is not SOCAR’s first foray into carbon capture. In September 2024 the company signed a number of MOU’s with Italian energy giant Eni, with one of them focused on greenhouse gas reduction and energy efficiency through carbon capture, utilization and storage.

Last year the company also signed an agreement to work together with Abu Dhabi energy company ADNOC on hydrogen, carbon capture and geothermal.