Topaz Energy Marine will deliver BP two vessel for the oil platform maintenance (PSV) in the Azerbaijani sector of the Caspian Sea, reported Trade Arabia on Monday.
According to the same report, total cost of the contract is $100 million. The vessels must be delivered to BP in quarter 4, 2013 and in quarter 2, 2014.
The vessels will be used by the British company to support operations on the Azeri-Chirag-Guneshli (ACG) bloc of oil and gas fields and Phase 2 of the Shah-Deniz gas condensate field development.
BP is the main foreign oil investor in Azerbaijan and it operates the projects to develop ACG and Shah-Deniz fields.—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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