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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Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
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The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
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BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
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In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
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