From January to November 2015 Azneft company (SOCAR’s company for oil and gas extraction) has extracted 6,308,000 tons of oil, reported SOCAR. During this period Azneft has fulfilled 101.2% of gas production plan.
During 11 months, 2015 gas production totaled 5.6 billion cub.m. (the plan fulfillment constituted 108.2%).
During this period the company has brought back 92 wells from the inactive fund, from which 53,100 tons of oil has been extracted.
During 11 months, 2015 the company has done the works, at the expense of which additional 51,200 tons of oil has been extracted.
From January to November the geological works have been done on the wells, which have helped to extract additional 277,800 tons of oil.
During this period the company has put into operation 66 new wells, from which 190,800 tons of oil has been extracted.
* In 2014 Azneft extracted 6,817,069 tons of oil and 6,399,273,000 cub.m. of gas.—0—
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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