Baku/04.10.13/Turan : State Oil Company SOCAR stated about accelerating the works to extinguish fire in the hole N 90 in the field "Bulla-Deniz." According to the press service of SOCAR, preparations for the final stage of an emergency has completed. The spread of fire has decreased considerably. A pipe was inserted into the borehole through which the flame raised to 12-13 meters. This ensured the safety of workers involved in the work of the well itself.
In parallel, installation of hydroabrasive cutting is coming to end, it will help to carry out a complete removal withdrawal of gas from the well, and restore its work in normal regime.
SOCAR reported that the method of the same time pumping of sand and water under high pressure will be applied during fire extinguishing.
The accident at the exploratory well "Bulla- Deniz" occurred at 23:30 on August 17. Since then, every day 2.5-3 million cubic meters of gas burn at the well. SOCAR representatives have repeatedly stated that it was possible to put out the fire immediately, but it is important to keep the exploration well.
The depth of the well is 5868 meters, and lot of money were spent on its drilling. SOCAR plans to continue using this well for gas extraction.–12D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review