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Category: Materials

EBRD Board OKs funding worth $500M for TANAP

The EBRD Board of Directors has approved a $ 500 million regional project that will help finance the delivery of crucial energy supplies from the…

New European company to acquire gas from Shah Deniz 2

Italy’s Edison and Gas Natural Fenosa have signed a binding agreement for the acquisition by Edison of Gas Natural Vendita Italia and of Azerbaijan’s Shah…

Southern Gas Corridor project’s cost revealed

The cost of the Southern Gas Corridor project is now estimated at $41.5 billion, head of the Southern Gas Corridor CJSC Afgan Isayev said addressing…

Azneft Announces Production Figures

Production Association (PA) Azneft (structure of SOCAR for oil and gas production) in January-September 2017 produced 4 million 624.8 thousand tons of oil and 3.87…

Daily Gas Supply to Consumers Increased by 1 MCM since October 1

In order to improve the supply of the population with “blue fuel”, the volume of gas supplied to consumers increases in accordance with daily demand….

SOFAZ to Spend $437 mln on Construction of Oil Refinery

On October 4, Azerbaijani President Ilham Aliyev approved changes in the budget of the State Oil Fund (SOFAZ) of Azerbaijan for 2017. According to the…

Construction of TANAP’s underwater section starts in Turkey

Construction of the Trans-Anatolian Natural Gas Pipeline’s underwater section in the Marmara Sea has started, the Turkish media report Sept. 23.   At present, the…

Azeri parliament to ratify new deal ACG-2 in 2017

Azerbaijan’s parliament is expected to ratify an oilfield development contract with a BP-led consortium before the end of 2017, the head of state oil group…

Ilham Aliyev announced the signing of a new contract for the ACG project

A new contract on development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields is planned to be signed in a few days, said…

BP restarts Shah Deniz field

BP has restarted gas and condensate production from the Shah Deniz field after carrying out preventive works on the Alfa production platform, having been halted…

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