SOCAR has decided to build a new production platform on the gas condensate field Bulla Deniz, where the well caught fire during the exploration drilling in August 2013, but new productive gas horizons were discovered on the depth of about 6,000 meters.
According to SOCAR, the new platform No 122 will be built by Neftegasstroi trust, which belongs to SOCAR.
The platform is designed by SOCAR’s Project Institute, which was ordered by the Narimanov oil and gas production company.
The new platform will be used to drill three operation wells. The platform will consist of 10 blocs and will be installed on the sea depth of 26 meters.
2.4 million cub.m. of gas and 450 tons of condensate a day is planned to be extracted from the platform.
The Bulla Deniz offshore field was discovered in 1973 and was put into operation in 1975. The field is operated by the Narimanov oil and gas production company.—0-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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