SOCAR has started drilling of a new production well on the Neft Dashlary offshore field, 100 km east of Baku.
SOCAR press office reported that the well No 2159 is being drilled from the site No 2150.
The depth of the well is 1550 meters and expected daily production rate – 10 tons of oil.
Neft Dashlary field was discovered in 1949. Geological resources of the field are estimated at 365 million tons, of which over 182 million tons are extractible resources. At present over 900,000 tons of oil a year is extracted on the field.—0—
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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