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
-
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.
-
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.
-
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.
-
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.
Leave a review