SLB and SOCAR Green are cooperating on the assessment of geothermal energy potential in Azerbaijan's Kalbajar district, Steve Gassen, Executive Vice President, Geographies at SLB, said during the session titled “Leaders’ Perspectives on Energy Transformation and Future Strategies” at the Baku Energy Forum, APA-Economics reports.
According to him, the parties are currently exploring the potential of geothermal resources in the Kalbajar district.
Gassen noted that the project includes subsurface resource studies, techno-economic analyses, and conceptual engineering work for the development of the fields.
“We are currently working with SOCAR Green on assessing the geothermal potential in the Kalbajar district. We have completed the exploration and feasibility study phases and are beginning to prepare a full project portfolio for the development of these fields,” he said.
According to the SLB official, geothermal energy makes it possible to leverage expertise developed in the oil and gas industry in the fields of geological surveys, well engineering, and drilling.
He noted that one of the key objectives of the energy transition is reducing the carbon footprint of oil and gas production. For this purpose, carbon capture and storage (CCS), carbon reuse, methane emissions reduction, and other technologies play an important role.
Gassen stressed that the technological and human capital accumulated in the energy sector can accelerate the development of low-carbon energy sources.
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