In 2015 it is forecast to extract 30.3 million tons of oil from the Azeri-Chirag-Guneshli (ACG) bloc (operated by BP), Rakhman Gurbanov, State Oil Company of Azerbaijan (SOCAR) Vice President for Production and Transportation, said at the Caspian Oil & Gas 2015 conference.
He said in 2014 31.4 million tons of oil was extracted from the ACG bloc. According to the official report of BP-Azerbaijan company, in 2014 31.5 million tons of oil was extracted on ACG, down 700,000 tons against 2013.
* The peak of oil production on the ACG was registered in 2010 – that time 40.2 million tons of oil was extracted.—0—
Economics
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Azerbaijan’s rice imports have surged as domestic production struggles to meet growing demand, underscoring the country’s reliance on foreign suppliers. Despite government initiatives to boost output, local production remains stagnant, with only 10,000 tons expected in the 2024-2025 season, while imports reached 55,961 tons between January and October 2024.
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Azerbaijan and Pakistan have signaled a growing commitment to deepen energy cooperation, with a focus on renewable energy initiatives, as Azerbaijani Energy Minister Parviz Shahbazov hosted a delegation led by Pakistani Federal Minister Abdul Alim Khan in Baku on January 30.
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Oil from Kazakhstan's largest field, Kashagan, has begun flowing into the Baku-Tbilisi-Ceyhan (BTC) pipeline. According to information from SOCAR, the first batch of this oil was received at the Sangachal terminal on January 27 and will be transported via BTC to the port of Ceyhan.
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Azerbaijan is accelerating the implementation of its socio-economic development strategy, focusing on digital transformation and strengthening cybersecurity. The government is allocating resources to human capital development, prioritizing the training of cybersecurity professionals, said Farid Osmanov, Chairman of the Board of the Innovation and Digital Development Agency, on January 30 during the fourth “Graduation Day” of the Azerbaijan Cybersecurity Center (AKM).
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