Investments of the Norwegian oil company Statoil into the projects in Azerbaijan totaled $5 billion, Senior Vice President of SOCAR Khoshbakht Yusifzada said during the seminar “Days of Norway in Baku.”
He said at present Statoil has been studying the secondary sediments onshore of Azerbaijan. “The Norwegian company has been also working within the framework of the memorandum on mutual understanding for exploration and development of Zafar-Mashal fields. Statoil plans to repeatedly process 3D seismic survey data earlier carried out on these fields. The company has been working with the Azerbaijani state agencies to obtain permission to conduct these works,” he said.
Statoil-Azerbaijan Manager Tangay Kosmao said that in 2002 ExxonMobil company drilled the first exploration well on Zafar Mashal, but it has brought no results. “We will try to successfully carry out the drilling works for the second time,” he added.
Statoil opened its office in Baku in 1992.—0—
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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