During three quarters this year State Oil Company of Azerbaijan (SOCAR) has extracted 5.15 billion cub.m. of tank gas. Tank gas production increased by 30 million cub.m. against the same period last year, according to the data posted on SOCAR’s official web site.
The same source reported that in September 2013 SOCAR extracted 557.3 million cub.m. of gas against 551.2 million cub.m. of gas during the same period in 2012.
Gas production increase has been achieved at the expense of drilling and putting into operation of several gas wells by SOCAR on its offshore fields since early this year.
During 2012 SOCAR extracted 7.46 billion cub.m. of tank gas against 7.08 billion cub.m. in 2011.—0---
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review