BP-Azerbaijan (the project operator) gradually improves its production showings in the Phase-1 of the Shah-Deniz gas condensate field development.
A source from the company told Turan that on May 15, 2013 the international consortium extracted 963 million cub. feet or 27.35 million cub.m. of natural gas on the contract area. In quarter 1, 2013 in average 951 million cub. feet or about 27 million cub.m. of natural gas a day was produced on the Shah-Deniz.
The production on the field is carried out on five production wells on the stationary platform. The productivity of each well is over 5 million cub.m. of gas a day.
In 2012 7.73 billion cub.m. of gas was extracted on Shah-Deniz field, up 15.9% against 2011. More gas was extracted on Shah-Deniz, than State Oil Company of Azerbaijan (SOCAR) and the operation companies operating onshore.
From January to March 2013 2.42 billion cub.m. of gas was produced on Shah-Deniz, up 420 million cub.m. against quarter 1, 2012.-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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