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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The first industrial explosives plant commissioned by “AzerGold” CJSC's subsidiary, “AzerBlast” LLC, has commenced full-scale operations in Ganja. The facility, established through a public-private partnership, aims to meet the increasing domestic demand for civilian explosives and reduce import dependence.
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After the price increase of Ai-92 gasoline and diesel fuel in Azerbaijan at the beginning of July this year, some drivers are complaining about increased fuel consumption. They claim that they used to cover longer distances with the same amount of fuel before.
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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