Some $480 million will be allocated for implementation of smart gas network management system in Azerbaijan, Elchin Agakishiyev, advisor to the president of the State Oil Company of Azerbaijan (SOCAR), said at the IADC Drilling Caspian 2025 Conference and Exhibition in Baku, Report informs.

"At COP29, an agreement was reached between SOCAR and IntelliGrid on implementing an advanced 'smart gas networks' management system in Azerigaz PU's service area. The $480 million project plans to use artificial intelligence (AI) to reduce gas leakage," he said.

Agakishiyev emphasized that at COP29, Azerbaijan's and particularly SOCAR's aspirations to reduce emissions in the oil and gas industry were confirmed.

"SOCAR has committed to completely eliminate routine gas flaring at all its facilities by 2030, reduce emissions intensity in upstream assets by 30% by 2030 compared to 2022 levels, decrease corporate emissions intensity by 30% and absolute emissions by 20% by 2035, reduce methane emissions to less than 0.2% in upstream assets by 2035, and achieve carbon neutrality by 2050," he added.

SOCAR and IntelliGrid (UAE), a joint venture between Esyasoft holding and Presight company, signed an agreement on November 11, 2024, to implement a state-of-the-art smart gas networks management system in Azerigaz PU's service area.

According to the document, IntelliGrid's artificial intelligence capabilities will be used to integrate data analysis, predictive maintenance, and real-time monitoring.

This will optimize gas consumption, minimize losses, and improve overall operational efficiency.