Experts of State Oil Company of Azerbaijan (SOCAR) have been working on the production sharing agreement, which envisages development of onshore fields Muradkhanly-Jafarli-Zardab located 250 km southwest of Baku, a source from SOCAR told Turan’s correspondent.
SOCAR’s partner in the project is the Canadian Zenith Energy Ltd company.
Zenith Energy Ltd has founded Zenith Aran Oil Company Ltd, which will carry out operations on the onshore bloc.
According to the preliminary estimates, SOCAR’s share in the company will be 20%, while Zenith Energy Ltd will have 80%.—0--
Economics
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The Azerbaijani government has adopted new guidelines to facilitate employment for individuals with special social protection needs and those facing difficulties in securing jobs. The resolution, approved on December 29 by the Cabinet of Ministers, outlines targeted programs aimed at job creation through public-private collaboration.
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The Cabinet of Ministers of Azerbaijan has approved new regulations to facilitate targeted employment programs aimed at supporting individuals with special social protection needs and those facing employment challenges. The measures, under the State Employment Agency, seek to enhance job creation in priority economic sectors.
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The Cabinet of Ministers of Azerbaijan has announced key amendments to various regulatory acts to ensure compliance with the law adopted on May 24, 2024, aimed at updating the Tax Code, the Customs Code, and laws on state duties and licensing.
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The Azerbaijani Cabinet has implemented significant changes to energy regulations in line with new laws aimed at enhancing the country’s electrical infrastructure. A decree signed by Prime Minister Ali Asadov on December 29 introduces amendments to several prior governmental decisions and cancels previous regulations, including a key rule on electricity production and equipment operation limits.
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