BAKU, Azerbaijan, November 25. The Caspian basin remains one of the most technically interesting and strategically important regions in the world today, SOCAR Vice President, Babak Huseynov said at the SPE 2025 Caspian Technical Conference held in Baku today, Trend reports.
He noted that Azerbaijan has played an important role in the global oil and gas industry for more than a century.
“It's no coincidence that the world’s first industrial oil well was drilled in Azerbaijan, that offshore production technologies were tested here, and that many generations of engineers built their careers on this land.
The projects, partnerships, and professionals here have shaped global industry practice in many ways and continue to provide valuable lessons for the future,” the official explained.
He pointed out that this year, Azerbaijan welcomes more than 500 representatives from 100 companies representing over 30 countries.
“This is a clear indication of the strong interest and high-level participation in the technical and strategic discussions held here.
Your presence here today reflects not only the local but also the regional and international value placed on this conference. One of this year’s main themes is learning from the past, renewing the present, and inspiring the future. This theme reflects both the rich heritage of our region and the development directions ahead. Each of these three parts carries an important message for our industry in this decisive period.
We learn from the past because we must understand the achievements, challenges, and experiences that form the foundation of the Caspian energy sector. The early years of the region were rich in innovation. Countless technical advancements, long-term development, and large-scale construction work were shaped through meaningful cooperation and sustainable adaptation. All this reminds us that our industry has passed through different stages, becoming stronger each time,” Huseynov mentioned
The vice president stressed that, especially in the Caspian region, the majority of assets are already in a mature phase and require new approaches.
“Many oil and gas fields in Azerbaijan and across the Caspian basin have been in production for decades, yet they continue to play a crucial role in energy security, economic stability, and the region’s future. To sustain their productivity, we need fresh ideas, modern technologies, new skills, and the ability to extract greater value from existing opportunities,” he said.
Huseynov also stressed the pivotal role of innovation at this stage.
“Digital tools enable us to understand reservoirs with greater accuracy, and reliable data helps optimize production. Automation and artificial intelligence enhance operational reliability, while new recovery technologies applied to mature fields are becoming essential to responsible operations. The success of the future will rely on combining experience with innovation—integrating what we know with what we can achieve tomorrow.
Renewal also demands investment in the workforce. This is especially critical as many of the specialists who built the early successes of our industry are now retiring. They laid the foundation for regional development, but the demand for new technical expertise is growing,” the vice president added.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel