SOCAR has put into operation a new well on the oldest offshore oil field of the country - Neft Dashlary, which was put into operation in 1949.
SOCAR press office reported that the well No 2287 was drilled from the platform No 1887. The daily production rate of the well is 15 tons of oil. 40 wells are planned to be drilled from the platform No 1887. At present there are 35 operation wells on the platform.
During the entire period of operation 173 million tons of oil was extracted from Neft Dashlary field and the small field Palchyg Pilpilasi field located nearby. According to the latest estimates, the residual resources of the fields total about 30 million tons, which is equal to the new field, according to the current international criteria. Every year these fields produce about 900,000 tons of oil.-0-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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