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Category: Azerbaijan

SOCAR Plans to Annually Produce 300 Mcm of Gas from New Bulla Deniz Well

SOCAR will produce about 300 mcm of gas and about 55 thousand tons of condensate per year due to commissioning a new well that is…

SOCAR to Drill Ten Production Wells on Oil Rocks

SOCAR will produce 73 thousand tons of oil and 16.5 mcm of gas annually by drilling 10 new production wells at the old Caspian offshore…

Azerbaijan Begins to Consume Less Gasoline

Oil production in Azerbaijan in 2016 decreased compared to 2015 by 9.1% to 2 billion 772.7 million manat. This is evidenced by the State Statistics…

AZERBAIJAN EYES MORE GAS, LESS OIL IN 2017: MINISTER

Azerbaijan is planning to produce more gas and less oil this year, energy minister Natiq Aliyev has toldNGW. The country plans to increase gross gas…

World Bank, Azerbaijan sign TANAP loan

World Bank and the the government of Azerbaijan January 16 signed a $400mn loan agreement funding the TransAnatolian gas pipeline (Tanap) that will deliver Caspian…

SOCAR supplies Malta’s 1st LNG

Malta’s first LNG cargo, supplied by Azerbaijan’s state Socar, was delivered January 11 aboard the tanker Galea. Socar shipped the first LNG to Malta aboard…

NGW magazine: Azerbaijan at half-way mark for SGC

Money keeps coming for the Southern Gas Corridor as it has enjoyed cast-iron support politically – so far, at least. Azerbaijan has spent $6bn of…

SOCAR Increases Drilling by 1% in 2016

The drilling departments of SOCAR increased drilling volumes in 2016 compared with the same period in 2015 by 0.8% – up to 105,245 meters. It…

SOFAZ unveils preferred property markets

The State Oil Fund of Azerbaijan (SOFAZ) is interested in the acquisition of high-quality real estate assets in European, Asia-Pacific and the US markets, SOFAZ…

Caspian states to further mull sea’s legal status: source

The ad hoc working group, tasked to develop a convention on the Caspian Sea’s legal status, plans to hold its next meeting in late January,…

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