State Oil Company of Azerbaijan (SOCAR) has conducted seismic survey on the salt field near Negram village in Nakhchivan Autonomous Republic (NAR), where it is planned to build a new gas storage, reads SOCAR’s statement.
According to the same information, 3-D seismic survey was conducted on the area of 27.5 sq.km to specify the possibility of building of underground gas storage in this area and 2-D seismic survey on 12.4 linear km.
The company has been working now to interpret the data. The information will be used to study the geological structure of the field.
The information reads that drilling of the exploration well No 1 has been completed on the territory.—0--
Economics
-
Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
-
The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
-
BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
-
In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
Leave a review