In 2013 SOCAR received about 2.2 billion cub.m. of free gas as a part of contract of the century
During 2013 BP-Azerbaijan company delivered 2.19 billion cub.m. of associated gas, which was extracted from the Azeri-Chirag-Guneshli (ACG) bloc of fields, from the Sangachal terminal to SOCAR free of charge in line with the conditions of the production sharing agreement (PSA), reads the BP-Azerbaijan company’s report for year 2013.
BP-Azerbaijan reported that last year it was planned to deliver 1.24 billion cub.m. of gas. SOCAR received in average 6 million cub.m. of gas a day.
During 2012 BP-Azerbaijan delivered 3.4 billion cub.m. of associated gas from ACG to SOCAR against the plan of 3 billion cub.m.. 9.2 million cub.m. of associated gas a day was delivered to SOCAR.
The reason of reduction of delivery of associated gas is that the international consortium uses more gas for technical purposes and injects gas into the wells to maintain the bed pressure. From now on the Azerbaijani side will receive less free associated gas from the ACG towards the end of the contract.—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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