Yesterday KazMunaiGas (KMG) national oil and gas company and Shell Kazakhstan Development B.V. signed the memorandum on mutual understanding to study possibilities of cooperation in field of geological characteristics of the field within the framework of “Road Map of Scientific-Technical Development of Kazakhstan’s Oil and Gas Industry” during the VIII Eurasian Forum Kazenergy in Astana
“I am glad that Shell and KMG start implementation of the Road Map within the framework of the commitments undertaken at the Council of Foreign Investors,” said Campbell Kier, General Director of Shell Kazakhstan Development B.V.
He expressed confidence that optimization of partnership within the framework of the Road Map will contribute to establishing cooperation between business and science and will allow focusing on economically efficient studies and technological developments in Kazakhstan.
“The Road Map will be a guide for development of Kazakhstan’s oil and gas industry determining a step-by-step development of the field,” said Magzum Mirzagaliyev, deputy chairman of Board for Innovative Development and Service Projects, who has signed the memorandum on behalf of the national company.—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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