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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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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