Next week SOCAR and Singaporean Keppel Offshore and Marine (KOM) will sign the agreement to build the semi-submersible floating drilling rig for Azerbaijan, SOCAR President Rovnag Abdullayev told journalists.
He said at present Azerbaijan has made oil and gas projects, but it becomes a problem to carry out exploration drilling works, because of shortage of the drilling rigs. "As we have many projects, almost one or two months after signing of the first agreement, it is planned to conclude another agreement to build the second floating drilling rig for Azerbaijan," Abdullayev said.
At present Azerbaijan has three semi-submersible drilling rigs - Dede Gorgud, Istiglal and Heydar Aliyev. Abdullayev said earlier that SOCAR plans to build four drilling rig with total amount of $4 billion.-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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