In 2014-2015 Azneft, production company of State Oil Company of Azerbaijan (SOCAR), plans to drill 102 new wells on the fields developed by Absheronneft oil and gas production company.
From January to August 2013 15 new wells have been drilled on the fields developed by Absheronneft oil and gas production company (Banka Darvina, Pirallahi island, Banka Apsheronskaya, Western Apsheron and Gurgany-Deniz), where 7,740 tons of oil and condensate has been extracted.
During 6 months, 2013 Absheronneft extracted 117,065 tons of oil from all the wells, up 15.6% against the same period last year.—0--
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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