Oil reserves in the field " Yam - 3" , which is 15 km to the west of the city of Ashdod, are estimated at 120 million barrels. This is the opinion of specialists of the Azerbaijani Caspian Driling Company, owned by the state company SOCAR.
This was reported on September 8 by the Israeli company Shemen Oil & Gas Resources, which owns (79.2 % interest in the project) . Large blocks of shares are owned by a native of Georgia, Abraham Nanikashvili.
As Izrus reported, oil at a depth of about 5175 m, has a very high quality. Drilling continues and at present depth of the well has reached 5,700 meters
Caspian Drilling Company completed a number of geophysical investigations in the drilling process , " Yam 3" and referred to members of the Association " Shemen " elektrokarotazhnuyu chart and other test results .
Recall that SOCAR specialists is not the first work in Israel in the projects of oil exploration in the prospective structures in the Mediterranean Sea . The unique experience of Azerbaijani oil workers on exploration and production of oil in offshore fields , proved to be highly in demand in many regions of the world. -02D-
Economics
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The Cabinet of Ministers of Azerbaijan approved new rules for the transportation of goods by rail on September 3, aimed at enhancing the efficiency of freight transport across the country’s railway network. The decision is part of a 2015 presidential decree designed to improve the operations of the state-owned Closed Joint-Stock Company “Azerbaijan Railways.”
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On September 3, the Cabinet of Ministers of Azerbaijan approved a new list of fixed assets that are the subject of leasing contracts and exempt from value-added tax (VAT) on imports, in accordance with recent amendments to the country's Tax Code.
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The Cabinet of Ministers of Azerbaijan has announced a series of amendments to the customs duty regulations, aimed at revising tariffs related to scrap metal and waste. The changes are part of the implementation of a recent presidential decree and are set to come into effect in 60 days.
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The Agricultural Subsidy Council has announced the introduction of a new type of subsidy. According to the institution's decision, starting next year, an additional 60 manat per hectare subsidy will be provided for fields using modern irrigation systems. It is stated that subsidies for repeated crops will only apply to irrigated areas starting from 2025.
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