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
-
Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
-
Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
-
Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
-
Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
Leave a review