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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But Putin Says It's "Virtually Impossible" Due to Zelensky's Position Slovak Prime Minister Robert Fico visited Moscow on Sunday to discuss energy issues, becoming the third EU country leader to hold talks with Vladimir Putin since Russia's 2022 invasion of Ukraine. Prior visits include Austrian Chancellor Karl Nehammer in April 2022 and Hungarian Prime Minister Viktor Orbán in July 2024. Slovakia is also a NATO member.
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Environmental, Social, and Corporate Governance (ESG) principles have emerged as a transformative force in modern business practices, reshaping priorities across industries. This was a key theme highlighted by Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), at the conference "Labor Relations, Occupational Safety, and Human Resources as Key ESG Approaches," held on Monday in Baku.
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A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
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The draft law "On Amendments to the Tax Code," adopted in its third reading, provides for tax exemptions on the sale of locally manufactured buses in Azerbaijan and the supply of spare parts for these vehicles. This was reported by the Tax Service under the Ministry of Economy, explaining that the government's initiative aims to support business development in the country by reducing the tax burden. The exemption will come into effect on January 1, 2025, and will remain valid for eight years.
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