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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As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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