In the second half of 2015 the consortium for construction of the Trans Anadolu gas pipeline (TANAP) plans to invite a tender to select contractors for the engineering, procurement, construction and installation (EPC) of the offshore section of the gas pipeline and the fiber optical cable, reported the consortium.
Six companies and alliances have been selected during the pre-qualification selection and they will be invited to take part at the tender.
These include Micoperi S.r.l., MRTS-Fernas Insaat AS Joint Venture, Saipem, Swiber Offshore Construction PTE LTD, TL Offshore Sdn. (Sapura Kencana Petroleum Group Company) and Valentine Maritime LTD Honeywell A.S.
“These companies and alliances will be invited to take part in the tender, which will be invited in the second half of 2015,” reported the same source.—0-
Economics
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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.
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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.
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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.
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"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.
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