In January 2014 SOCAR carried out 10,492 meters of drilling works (except for joint ventures and operation companies). In January 2013 this index totaled 10,629 meters.
SOCAR press office reported that of total volume of drilling works carried out in January 2014 10,424 meters fell to the operation drilling (9,320 meters in January 2013) and 68 meters to the exploration drilling against 1,309 meters in January 2013.
In 2013 SOCAR carried out 142,656 meters of drilling works against 136,441 meters in 2012. Of total volume of drilling carried out in 2013 135,665 meters fell to the operation drilling and 6,991 meters to the exploration drilling.—0—
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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