On October 29 in the evening State Oil Company of Azerbaijan (SOCAR) had to suspend the works on the well No 90 on the gas condensate field Bulla Deniz, which has been recently launched after the accident, a reliable source from SOCAR told Caspian Barrel.
The same source said that the accident occurred on the well 90, after which it was decided to temporarily suspend gas supply from the well to the system.
The initial analysis showed that the cause of the accident was growth of hydrostatic pressure on the bottom part of the well.
During the well drilling there was abnormal geological pressure on the depth of about 5800 metres. The drilling progress totaled 5868 meters.
SOCAR’s specialists have been working to solve the problem.
* On August 18, 2013 there was an accident during drilling of the exploration well on the Bulla Deniz field, which has caused ignition. The fire was extinguished only after 67 days. On October 23 in the evening the fire was extinguished and the first gas was supplied into the system via the underwater infrastructure.—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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