Investments into the all BP projects in Azerbaijan totaled $40 billion, Gordon Birrel , President BP-Azerbaijan, said at the 20th Caspian Oil & Gas-2013 international conference.
"Investments of BP and all its partners into the projects in Azerbaijan exceeded $40 billion. We have created a reliable and safe system of oil and gas pipelines," he added.
He said that 42 billion cub.m. of gas and 88 million barrels of condensate has been extracted since the Shah-Deniz field development.
"During the Shah-Deniz Phase-1 project we have achieved the highest stable annual production rate. Daily gas production rate on the field is 27 million cub.m. of gas and 55,000 barrels of condensate," he added.
Speaking about the Shah-Deniz Phase-2 development, Birrel said that special underwater production technology will be first time applied in the Caspian Sea during implementation of this project.-0--
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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