In quarter 1, 2013 2.42 billion cub.m. of natural gas and 5 million barrels (630,000 tons) of condensate was produced on the Shah-Deniz contract area. During this period the international consortium spent $42 million to extract hydrocarbons, read materials of BP-Azerbaijan company (the project operator).
From January to March 2012 $81.5 million has been invested to extract 2 billion cub.m. of natural gas and 4.1 million barrels (500,000 tons) of condensate from the Shah-Deniz field.
The efficiency of the business operations in the Shah-Deniz project has improved during quarter 1, 2013: during this period gas and condensate production increased by 21% and 26%, respectively, but expenses for their production declined by 48.5%.
* The production of hydrocarbons in Shah-Deniz Phase-1 started in November 2006. Since that time till April 1, 2013 40 billion cub.m. of gas and 10.7 million tons of condensate has been extracted.-0-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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