Expanding of drilling and exploration works in the Azerbaijani sector of the Caspian Sea demands construction of new semi-submersible floating drilling rigs. One will be put into operation in 2014, SOCAR President Rovnag Abdullayev said at the international conference ‘New Technologies in Oil and Gas Production” in Baku.
He said the drilling rig will allow drilling wells up to 80000-10,000 meters deep with the sea depth of 1,000 meters, which means the deepest point of the Caspian Sea.
At present Azerbaijan has three semi-submersible floating drilling rigs – Dede Gorgud, Istiglal and Heydar Aliyev. The rigs could drill wells on the sea depth between 350 and 550 meters. The depth of the well does not exceed 7,000-7,500 meters. In addition, all drilling rigs are used in the current projects and there is no vacant drilling rigs to carry out new exploration works in the coming three years.—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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