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 Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
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The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
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As a member of the International Renewable Energy Agency (IRENA) Council, Azerbaijan participated in the 28th meeting of this Council in Abu Dhabi (UAE).
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Azerbaijan’s imports of animal and vegetable fats and oils climbed 23.9% by weight and 16.2% by value from January to September 2024, official data revealed. Despite the uptick in volume, the import cost of these products saw a decrease compared to the same period last year, with the cost per ton of vegetable oil falling by 6.1% to $1,199.6 in 2024, down from $1,278.6 in 2023.
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