SOCAR hopes to complete repair of the platform No 10 on the shallow section of the Guneshli field till the end of May, SOCAR President Rovnag Abdullayev told journalists at the IP Week.
“Right after extinguishing of the fire on the last well, we will start repair of the platform. We will need 3-4 months to repair the wells. We plan to bring the field into order till the end of May. 1.3 mcm and 1,000 tons of oil was produced there,” he said.
However, SOCAR’s President said that this year the company expects oil production to drop by 500,000-600,000 tons against last year.
The ignition on the offshore platform No 10 on the Guneshli field on December 4, 2015 has led to failure of the gas line. The fire on the gas wells was fully extinguished only after 68 days – on February 10, 2016 at 7.54 p.m. local time.—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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