During three 3 quarters 7.3 billion cub.m. of natural gas was extracted on the Shah-Deniz field, reads the BP-Azerbaijan report from January to September 2013.
Gas production increased by 2.1 billion cub.m. against the same period last year.
During 9 months, 2013 1.85 million tons of condensate was produced on the field. From January to September 2012 1.4 million tons of condensate was produced.
The average production volume totaled 26.6 million cub.m. of gas and 53,700 barrels of condensate.
During the period of the field operation from the end of 2006 till early October 2013 44.8 billion cub.m. of gas and 12 million tons of condensate was extracted.
The contract for the Shah-Deniz field development was signed in Baku on June 4, 1996 and ratified by the Milli Mejlis on October 17, 1996.
The partners of the production sharing agreement (PSA) Shah-Deniz are: BP (operator with 25.5%), Statoil (25.5%), SOCAR (10%), LUKoil (10%), NICO (10%), Total (10%) and TPAO (9%). –0--
Economics
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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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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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