In January 2015 SOCAR had a slight decline of oil production.
According to SOCAR’s statistics, in January 2015 it extracted 712,300 tons of oil, down 0.5% against January 2014.
In January 2015 oil production in Azerbaijan totaled 3,667,600 tons, up 0.7% against January 2014.
According to the State Statistical Committee, in January 2015 the country extracted 3,668,100 tons of oil.
In 2014 total volume of oil production in Azerbaijan reached 41.9 million tons, of which 8,402,500 tons of oil was extracted by SOCAR.—0—
Economics
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Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
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The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
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BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
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In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
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