Water sector is one of the most vulnerable to climate change. Efficient water management is crucial for ensuring the food safety as well as sustainable economic growth of the country. Monitoring and estimation of evapotranspiration is vital and necessary for allocating and managing water resources in agricultural areas, especially in arid and semi-arid climates. Assessment of water used by crops can be conducted over large agricultural areas using satellites images and products. A study on "Remote-Sensing based Assessment of Evapotranspiration and Forecasted Projections" was conducted in the frame of UNDP-GCF Armenia's National Adaptaion (NAP) project, showcasing practices of using satellite remote sensing data in the process of assessing the vulnerability of water resources, tools and algorithms for assessing vulnerability to climate change, as well as possibilities of assessing actual and potential evapotranspiration through satellite imagery.