The State Research and Production Company R.I.S.K. won three tenders for the provision of IT services to the State Oil Fund of Azerbaijan (SOFAZ). The contracts totaled 645.5 thousand manat, Turan was told in the SOFAZ press service.
The company received the right to extend for one year the warranty of the manufacturer of information technology equipment Cisco (Smartnet), which will cost the Fund 213,300 manat. Extension of the term of licenses for IT systems, increase of their functionality and purchase of new licenses will be paid AZN 390,500. In addition, technical security services (video monitoring system, entrance control, etc.) of the SOFAZ administrative building will be spent 41,600 manat in 2017.
The company R.I.S.K. has won similar tenders of SOFAZ several times. -----08D
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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