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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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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