Since the end of 2006 till mid-April 2016 61 billion cub.m. of gas and 16 million tons of condensate has been extracted from the offshore gas condensate field Shah Deniz, Academician Khoshbakht Yusifzada, SOCAR’s Senior Vice President, said at the session of the Presidium of the Azerbaijan National Academy of Sciences.
Yusifzada said that at present six wells operate on the Shah Deniz Phase 1 project. Total production rate of the wells is 28-29 million cub.m. of gas a day.
The main part of the extracted gas is exported. Gas from the Shah Deniz field is supplied to the local market of Azerbaijan.
“Of the extracted volume of gas 33 billion cub.m. has been exported to Turkey and Georgia,” Yusifzada said.
One can draw a conclusion that during these years local market of Azerbaijan used about 46% of gas extracted from the Shah Deniz field.
The natural gas resources on this field are estimated at 1.2 trillion cub.m. of gas and 240 million tons of condensate.—0—
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review