According to the forecasts, in 2014 Azerbaijan will extract 43 million tons of oil, Azerbaijani Minister of Energy Natig Aliyev told journalists at the end of last week.
“Azerbaijan’s main goal is to maintain stable production of oil at 40-45 million tons and we have been working hard to achieve that,” Aliyev said.
Minister added that last year it was planned to extract over 41 million tons of oil, but actual volume exceeded 43 million tons of oil.
Last year the main volume of oil production fell to the Azeri-Chirag-Guneshli (ACG) bloc of oil and gas fields and Shah-Deniz gas condensate field, which are being developed jointly with the foreign partners.
Speaking about the gas production, Aliyev said that last year Azerbaijan extracted 29 billion cub.m. (tank gas – 17.9 billion cub.m.) and in the future it is planned to increase this volume.—0—
Economics
-
A high-level event titled “Trio of COP Presidencies Dialogue: Roadmap for Mission 1.5 towards a Future of Shared Prosperity” was held within the framework of the 29th session of the United Nations Climate Change Conference (COP29).
-
The State Oil Company of the Azerbaijan Republic (SOCAR) and Slovakia's largest gas operator, Slovenský Plynárenský Priemysel (SPP), have signed a short-term pilot contract for the supply of natural gas, according to sources in Slovakia.
-
In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
-
Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
Leave a review