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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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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