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
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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