11:16 - 25.11.2025

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November 25, Fineko/abc.az. New ideas and modern technologies are required to maintain the productivity of the Caspian region's deposits.

ABC.AZ reports that Babek Huseynov, Vice President of the State Oil Company of Azerbaijan (SOCAR), made this statement when delivering speech at the SPE Caspian Technical Conference-2025 in Baku.

He added that the Caspian basin remains one of the most technically interesting and strategically important regions.

"Projects here have always been characterized by experiments, technological breakthroughs, long-term development and major offshore improvements. All of this is driven by the need for sustainability, collaboration, and constant adaptation. This reminds us that the industry has gone through different stages and has grown stronger each time. This is especially important for the Caspian region, as many of our assets are mature and require new approaches," Huseynov said.

He added that many fields in Azerbaijan and in the Caspian region as a whole have been developed for decades.

"However, they are still an essential element of energy security, economic stability and the future of this region. To keep them productive, we need new ideas, modern technologies, and new competencies. In this sense, innovation is critical," he said.