Executive Director of the 15th and 16th phases of the Southern Pars gas field development Foruzesh said that full operation of the 15th and 16th phases will begin next month and the incomes from the project implementation must total about $6 billion a year.
Foruzesh said that at present on average over 36 million cub.m. of gas a day is extracted on the above-mentioned phases. It is planned to extract up to 50 million cub.m. of gas, 77,000 barrels of gas condensate and 400 tons of sulfur a day as well as 1.5 million tons of liquefied hydrogen gas and 1 million tons of ethanol a year on these fields.
Foruzesh said that $6 billion has been invested into development of the phases 15 and 16. Approximately $3 billion has been spent for construction of the gas refining plant and the coastal facilities, $2 billion for the offshore objects and about $1 billion for well drilling.
During the past year 11 billion cub.m. of gas and over 6 million barrels of gas condensate was produced on the above-mentioned phases during the past year, reported www.iran.ru.--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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