WEBVTT

1
00:00:00.269 --> 00:00:02.852
(bright music)

2
00:00:08.100 --> 00:00:09.480
<v ->Rovshan, good morning.</v>

3
00:00:09.480 --> 00:00:11.250
It's so nice to be here with you today.

4
00:00:11.250 --> 00:00:12.840
You have a pretty ambitious vision,

5
00:00:12.840 --> 00:00:14.310
and you're at the start of a journey.

6
00:00:14.310 --> 00:00:16.680
What were your immediate goals for the,

7
00:00:16.680 --> 00:00:18.240
let's say, the next three years in terms

8
00:00:18.240 --> 00:00:20.460
of what you'd like to see SOCAR accomplish?

9
00:00:20.460 --> 00:00:23.460
<v ->What should SOCAR achieve is already envisaged</v>

10
00:00:23.460 --> 00:00:25.740
in the strategy and the vision

11
00:00:25.740 --> 00:00:28.260
of our shareholder of government of Azerbaijan.

12
00:00:28.260 --> 00:00:30.900
The aim is to transform SOCAR

13
00:00:30.900 --> 00:00:33.150
to the leading state-owned enterprise,

14
00:00:33.150 --> 00:00:36.870
to exemplary state-owned enterprise in energy sector

15
00:00:36.870 --> 00:00:39.510
which is capable and which will deliver

16
00:00:39.510 --> 00:00:43.680
to the energy security of Azerbaijan, of its partners.

17
00:00:43.680 --> 00:00:45.840
We'll do it in a sustainable manner,

18
00:00:45.840 --> 00:00:48.780
so we do understand that oil and gas will be there

19
00:00:48.780 --> 00:00:51.000
for decades to come and they will be the

20
00:00:51.000 --> 00:00:53.550
important part of energy mix,

21
00:00:53.550 --> 00:00:56.040
but we have to do it in a sustainable manner.

22
00:00:56.040 --> 00:00:58.080
We have to do it looking at

23
00:00:58.080 --> 00:01:02.010
what our carbon footprint is, how we can decarbonize

24
00:01:02.010 --> 00:01:05.340
in line with all the strictest environmental regulations

25
00:01:05.340 --> 00:01:09.030
and standards because we have one planet to share.

26
00:01:09.030 --> 00:01:11.850
We live there and the well-being

27
00:01:11.850 --> 00:01:15.090
of all humankind, of population, is very important for us,

28
00:01:15.090 --> 00:01:18.060
and it has become one of the key parameters

29
00:01:18.060 --> 00:01:19.950
of our decision-making process.

30
00:01:19.950 --> 00:01:23.160
In that sense, SOCAR is on the journey

31
00:01:23.160 --> 00:01:27.180
to become a sustainable energy producer,

32
00:01:27.180 --> 00:01:28.860
and I use the word "energy"

33
00:01:28.860 --> 00:01:30.900
because it's not all about oil and gas.

34
00:01:30.900 --> 00:01:33.690
We are implementing projects in renewables

35
00:01:33.690 --> 00:01:37.590
like wind and solar with esteemed partners.

36
00:01:37.590 --> 00:01:42.590
In that sense, the aim is, again, to be the important part

37
00:01:43.260 --> 00:01:47.070
of energy security of country and of its partners.

38
00:01:47.070 --> 00:01:48.990
<v ->This transformation you've undertaken,</v>

39
00:01:48.990 --> 00:01:51.630
it's one of the most challenging

40
00:01:51.630 --> 00:01:53.610
and breathtaking transformations that covers everything

41
00:01:53.610 --> 00:01:56.403
from exploration, production, midstream, downstream.

42
00:01:57.510 --> 00:01:59.490
How are you addressing those challenges

43
00:01:59.490 --> 00:02:01.560
and then how have you prepared your leadership team

44
00:02:01.560 --> 00:02:03.630
to address those challenges?

45
00:02:03.630 --> 00:02:06.660
<v ->I think, in any initiative or any project you start,</v>

46
00:02:06.660 --> 00:02:08.850
there are several components that ensure

47
00:02:08.850 --> 00:02:11.250
the success of that engagement.

48
00:02:11.250 --> 00:02:14.460
First of all is clear vision, and we do have clear vision

49
00:02:14.460 --> 00:02:17.280
of what we would like to achieve.

50
00:02:17.280 --> 00:02:19.890
Second is a clear timeline and roadmap

51
00:02:19.890 --> 00:02:23.190
where you have teams who are accountable for each milestone

52
00:02:23.190 --> 00:02:27.360
and you know what, when, and who should do.

53
00:02:27.360 --> 00:02:30.300
But most important is human capital.

54
00:02:30.300 --> 00:02:33.780
It's the people who we are working with,

55
00:02:33.780 --> 00:02:37.350
who are actually doing daily operations,

56
00:02:37.350 --> 00:02:41.430
who are working on the achievement of these tasks.

57
00:02:41.430 --> 00:02:45.090
In that sense, we are now building a unique blending

58
00:02:45.090 --> 00:02:47.610
of experience that SOCAR has

59
00:02:47.610 --> 00:02:50.010
because SOCAR has been in the front

60
00:02:50.010 --> 00:02:54.780
of oil and gas industry for decades or for centuries.

61
00:02:54.780 --> 00:02:58.320
Azerbaijan, I think you know, we were first to produce oil.

62
00:02:58.320 --> 00:03:01.530
We were first to produce offshore industrial oil

63
00:03:01.530 --> 00:03:03.900
in Azerbaijan, so we had done a lot

64
00:03:03.900 --> 00:03:06.570
of firsts in oil and gas industry.

65
00:03:06.570 --> 00:03:09.180
In that sense, we had very good heritage.

66
00:03:09.180 --> 00:03:12.660
We had very skillful labor force

67
00:03:12.660 --> 00:03:14.640
and colleagues who are working with us,

68
00:03:14.640 --> 00:03:17.220
but we also do understand that there is new trends.

69
00:03:17.220 --> 00:03:20.520
There is new possibilities. There is new technologies.

70
00:03:20.520 --> 00:03:22.860
There is disruptive technologies sometimes.

71
00:03:22.860 --> 00:03:25.890
And in that sense, we are bringing on new students.

72
00:03:25.890 --> 00:03:29.280
fresh graduates or professionals from different fields.

73
00:03:29.280 --> 00:03:31.710
Like what? Like in green energy.

74
00:03:31.710 --> 00:03:33.600
We are also counting on the specialists

75
00:03:33.600 --> 00:03:38.010
we are engaging from other fields or other companies,

76
00:03:38.010 --> 00:03:42.270
and we are having the idea of one SOCAR family

77
00:03:42.270 --> 00:03:44.190
which is comprised of the people

78
00:03:44.190 --> 00:03:47.310
who bring the heritage, knowledge, and experience,

79
00:03:47.310 --> 00:03:49.920
and the new people who bring the new ideas,

80
00:03:49.920 --> 00:03:54.090
new vision, maybe sometimes very different or radical views

81
00:03:54.090 --> 00:03:57.240
on how we should do some part of the businesses.

82
00:03:57.240 --> 00:04:01.380
But we sit together, we discuss. And another component

83
00:04:01.380 --> 00:04:04.500
of the success is the ability to hear,

84
00:04:04.500 --> 00:04:08.970
listen, share, and to agree on decisions.

85
00:04:08.970 --> 00:04:11.520
<v ->The speed and the size of the change needed</v>

86
00:04:11.520 --> 00:04:13.470
is actually pretty tremendous.

87
00:04:13.470 --> 00:04:16.230
How are you thinking about it for SOCAR,

88
00:04:16.230 --> 00:04:18.360
but also for Azerbaijan?

89
00:04:18.360 --> 00:04:20.040
<v ->Energy transition is happening.</v>

90
00:04:20.040 --> 00:04:22.410
I think different views are on the speed

91
00:04:22.410 --> 00:04:25.050
of this transition and the path

92
00:04:25.050 --> 00:04:27.870
or trajectory it should take.

93
00:04:27.870 --> 00:04:31.500
We, in SOCAR, do believe that it should be done based

94
00:04:31.500 --> 00:04:36.437
on realistic assumptions that take into account all issues,

95
00:04:37.290 --> 00:04:41.077
even the CapEx pricing, the investments needed,

96
00:04:41.077 --> 00:04:45.030
the monetary side, the demand side, energy security side,

97
00:04:45.030 --> 00:04:48.060
because we cannot afford to be in a situation

98
00:04:48.060 --> 00:04:50.040
where the energy security of the country

99
00:04:50.040 --> 00:04:52.320
or our partners is compromised.

100
00:04:52.320 --> 00:04:54.930
And in that sense, we are looking how

101
00:04:54.930 --> 00:04:59.310
to have this energy transition be implemented

102
00:04:59.310 --> 00:05:02.340
in a manner that gives us security

103
00:05:02.340 --> 00:05:05.850
and also allows us to do what we would like

104
00:05:05.850 --> 00:05:08.520
to do according to our strategy.

105
00:05:08.520 --> 00:05:11.550
We are also working with several partners

106
00:05:11.550 --> 00:05:16.550
in making our path very clear for internal, first of all,

107
00:05:17.100 --> 00:05:20.520
internal SOCAR stuff because if your team or family,

108
00:05:20.520 --> 00:05:23.940
we call it, don't understand fully why we should do it,

109
00:05:23.940 --> 00:05:26.970
you will not be able to achieve the result.

110
00:05:26.970 --> 00:05:30.090
Second, to convey or communicate our vision

111
00:05:30.090 --> 00:05:34.020
to our external partners that we see that oil

112
00:05:34.020 --> 00:05:36.420
and gas will be there for decades to come.

113
00:05:36.420 --> 00:05:38.580
Again, we are going to produce oil and gas,

114
00:05:38.580 --> 00:05:41.700
but in a sustainable manner, but we are also embarking

115
00:05:41.700 --> 00:05:44.550
on a journey for energy transition.

116
00:05:44.550 --> 00:05:47.430
We are doing renewable projects. In that sense,

117
00:05:47.430 --> 00:05:50.190
we are currently preparing the green agenda

118
00:05:50.190 --> 00:05:51.633
or green strategy of SOCAR.

119
00:05:52.680 --> 00:05:54.235
<v ->That's great. Exceptional.</v>

120
00:05:54.235 --> 00:05:55.068
Thank you so much.

121
00:05:55.068 --> 00:05:55.901
<v ->Thank you.</v>

122
00:05:55.901 --> 00:05:56.734
<v ->I really appreciate it.</v>