One of the main targets of the State Oil Company of Azerbaijan (SOCAR) is to reach net zero goals by 2050, SOCAR President Rovshan Najaf told a meeting with Giulia Chierchia, bp’s Executive Vice President for Strategy, Sustainability, and Ventures, Report informs, citing SOCAR.

At the meeting, it was emphasized that the unanimous decision to hold the COP29 in Azerbaijan this year is an indicator of the high trust of the international community in the country.

The parties noted the importance of the memorandum of understanding signed between SOCAR and bp in the field of environmental protection in December last year and reviewed the work done in this direction.

The Executive Vice President was briefed about SOCAR's activities in the environmental field and the goals set for reducing emissions in a medium- and long-term perspective. It was noted that reducing flaring in the production process to zero, reducing emission intensities, and achieving zero methane goals are the main targets of the company.

The parties also exchanged views on the energy transition and other issues of mutual interest.