In 2013 in average 655,370 barrels of oil a day or total of 239 million barrels (32.2 million tons a year) is extracted from the Chirag, Central Azeri, Eastern Azeri, Western Azeri and deep-water Guneshli platforms on the Azeri-Chirag-Guneshli (ACG) field, a source from the BP-Azerbaijan company (ACG operator) told Turan.
In 2012 234 million barrels or 32.9 million tons of oil was extracted on the ACG offshore bloc.
Therefore, during 2013 oil production on ACG dropped by 2.1%.
* The shares in ACG are distributed as following: BP - (35.8%), SOCAR (11.6%), Chevron (11.3%), Inpex (11%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.8%), Itochu (4.3%) and ONGC Videsh Ltd (OVL) (2.7%). –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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