Oil companies sign Caspian Environmental Protection Initiative

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NUR-SULTAN, Kazakhstan – A Memorandum of Understanding for the creation of the Caspian Environmental Protection Initiative (CEPI) between Kazakh national petroleum company KazMunayGas (KMG), Azeri state oil company SOCAR, BP Exploration for the Caspian Sea, Equinor Apsheron and Total E&P Absheron was signed in Baku last Monday, the press service of KazMunayGas said on September 15.

“The main objectives of the initiative are to create the first platform for environmental protection and joint research of international oil companies operating in the region. The activities of the participating companies will be aimed at active joint efforts to resolve the problem of climate change, which poses a threat to the environmental sustainability of the Caspian region,” KazMunayGaz said.

In addition, CEPI collaboration involves researching and supporting best practices, standards and technologies in the field of environmental protection.

“I am sure this initiative will become an excellent platform for dialogue and consultations, as well as an important step in joint actions to achieve environmental objectives in the Caspian region,” KMG Chairman Alik Aidarbayev said, adding that other companies may also join to CEPI.

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