From January to October 2013 drilling companies of State Oil Company of Azerbaijan (SOCAR) increased the volume of drilling by 8.8% against the same period last year up to 126,038 meters.
SOCAR press office reported that the operation drilling totaled 119,704 metres (growth by 8.5%), while exploration drilling – 6,334 metres (growth by 15.6%).
In October 2013 SOCAR’s drilling volume totaled 6,915 meters, which fell fully to the operation drilling.
In 2012 SOCAR drilled 136,441 meters, of which 7,473 meters fell to the exploration drilling and 128,968 meters to the operation drilling.—0—
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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