BP and partners in January-September 2016 produced in the contract area Azeri-Chirag-Guneshli (ACG), 23.76 million tons of oil. Turan IA learned this from sources in the government.
Note that in the first nine months of 2015 were produced 23.57 million tons of raw materials. Thus, in the current year, BP (operator of the project) not only stabilized production from the contract area, but also for the first time since 2011 managed to increase its volume by 190,000 tons or 0.8%.
The interviewer told Turan that in order to achieve such results BP and partners this year pumped into oil wells around 7.6 bcm of associated gas. "Yes, the Azerbaijani side was transferred smaller volumes of gas, but the extracted oil was much more than the forecast and it is beneficial to both the state and companies," said the government source.
At the end of 2015 31.3 million tons of oil were produced at ACG, which is 0.2 million tons less than in 2014. -12B--
Economics
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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.
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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.
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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.
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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.
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