British service company Wood Group was selected by BP as a contractor for providing engineering services for BP’s underwater infrastructure in the Gulf of Mexico, continental shelfs of UK and Norway and the Azerbaijani offshore oil and gas fields, reported Wood Group.
The company reported that the five-year contract envisages operation, program and engineering support and management of the underwater projects by Wood Group Kenny.
“The contract is effective since its signing date. The works in Azerbaijan will be managed from the Baku-based office of Wood Group company,” said the same source.
Wood Group is a British oil and gas service company with the headquarters based on Aberdeen. In 2014 the company’s incomes totaled $6.57 billion.—0—
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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