In the coming several months SOCAR will start construction of a new generation of semi-submersible drilling rig, a source from SOCAR told Turan.
SOCAR will act as the customer and the works will be carried out by the US company, which name will be disclosed after signing of a commercial contract.
The drilling rig will be able to carry out drilling on the sea depth of 1000 meters, which means almost any point of the Caspian Sea, and drill the wells up to 8000 meters deep. The drilling rig is also designed to withstand abnormally high pressure on big depth.
The new drilling rig will be ready to operation by mid-2015 and will be used to drill the second exploration well on the Absheron contract area operated by French Total company.-0-
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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