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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As a significant step toward strengthening Azerbaijan's position in global trade, the "International Trade" working group of the Commission on Business Environment and International Rankings held a videoconference to review progress achieved and set objectives for 2025. Key participants included the First Deputy Minister of Economy, Elnur Aliyev; the Head of the Economic Reforms Monitoring and Evaluation Sector, Vusal Shikhaliev; and the Deputy Chairman of the State Customs Committee, Natig Shirinov.
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Under the auspices of Azerbaijan’s Ministry of Economy and the Azerbaijan Export and Investment Promotion Agency (AZPROMO), a pivotal exporters’ meeting was held this week in Baku. The event brought together government officials, industry leaders, and entrepreneurs to review progress in export operations over the past year and set ambitious goals for 2025.
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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