The geological exploration works on the Bulgarian continental shelf of the Black Sea will begin in February 2016, said Bulgarian Premier Boyko Borisov.
Borisov added that the exploration works in the deep-water bloc Khan Asparukh would have started, if the first government was not forced to resign in 2013, reported Bulgarian Novinte agency.
He also reported that Bulgaria spends about $6.7 billion a year to buy oil products and gas, while the country’s own resources remain undeveloped.
Deputy Energy Minister Zhecho Stankov said that Bulgaria is going to hold the license round for the right to develop Silistar and Teres oil and gas blocs on the Black Sea shelf to reduce dependence in Russia.
US ExxonMobil, French Total and British Melrose applied for development of gas fields on the Khan Asparukh bloc in 2012.—0—
Economics
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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The architectural company El & En has received several contracts worth a total of AZN 805,593 from the Committee for Urban Planning and Architecture. Additionally, the Territorial Construction Planning Center commissioned projects from the private company El & En worth several hundred thousand manats. These architectural projects involve work in liberated territories and other regions of Azerbaijan. The co-owner of this company, along with his son, is Elbay Gasimzade, the head of the Public Council under the State Committee for Urban Planning and Architecture and simultaneously the Chairman of the Union of Architects.
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The State Oil Company of Azerbaijan (SOCAR) will begin issuing "green" bonds on January 15, with a total issuance volume of USD 200 million, according to an official SOCAR statement cited by Turan.
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On January 10, 2025, Azerbaijani President Ilham Aliyev signed a decree dismissing Samir Sharifov from his position as Minister of Finance. Having held this role since 2006, Sharifov has been appointed Deputy Prime Minister, marking a shift in his responsibilities while maintaining his influence within the government.
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