By January 1, 2014 the volume of proved gas resources of SOCAR totaled 61.15 billion cub.m. reads the SOCAR’s report of stable development for year 2013.
By January 1, 2013 the volume of proved gas resources of SOCAR totaled 23.82 billion cub.m. Thus, during a year SOCAR’s gas resources increased by 256.7%
According to the report, during last year SOCAR’s oil resources totaled 78.5 million tons. By January 1, 2013 this index totaled 71.66 million tons, growth by 9.5%
The report reads that the volume of SOCAR’s proved oil and gas resources is based on the resources of nine main fields. In particular, they include offshore fields Guneshli, Oil Rocks, Pirallakhi, Banka Darvina, Sangachal-Duvanly-Deniz-Here-Zira, Alat-Deniz, Bulla Deniz and onshore fields Bibi Eibat, Lokbatan-Puta-Gushkhana. The oil and gas resources were calculated by Miller & Lents company on the basis of the contract with SOCAR.
According to the company, in 2013 the volume of oil production by SOCAR totaled 8.31 million tons against 8.29 million tons in 2012, while gas production totaled 7.14 and 6.92 billion cub.m., respectively. Last year the volume of oil refining by the company totaled 6.53 million tons against 6.17 million tons in 2012.—0-
Economics
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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But Putin Says It's "Virtually Impossible" Due to Zelensky's Position Slovak Prime Minister Robert Fico visited Moscow on Sunday to discuss energy issues, becoming the third EU country leader to hold talks with Vladimir Putin since Russia's 2022 invasion of Ukraine. Prior visits include Austrian Chancellor Karl Nehammer in April 2022 and Hungarian Prime Minister Viktor Orbán in July 2024. Slovakia is also a NATO member.
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Environmental, Social, and Corporate Governance (ESG) principles have emerged as a transformative force in modern business practices, reshaping priorities across industries. This was a key theme highlighted by Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), at the conference "Labor Relations, Occupational Safety, and Human Resources as Key ESG Approaches," held on Monday in Baku.
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A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
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