Azerbaijan

BP restarts Shah Deniz field
Azerbaijan Materials

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 for a fortnight August 14. The work has been successfully completed and “since August 28, both the platform and facilities operating at the Sangachal terminal within the Shah Deniz project have been operating at full […]

Gas Production at Shah Deniz Field Stopped
Azerbaijan Materials

Gas Production at Shah Deniz Field Stopped

BP-Azerbaijan yesterday announced the suspension of gas and condensate production from the Shah Deniz field for preventive maintenance on the production platform. “Preventive works are included in the annual program of work and will last 14 days, starting from August 14,” the company noted. According to BP-Azerbaijan, stopping the platform is necessary for effective implementation of preventive, inspection and design […]

Successful Transfer of Top Manager of Petro China to SOCAR Trading
Azerbaijan Materials

Successful Transfer of Top Manager of Petro China to SOCAR Trading

Petro China International America head for domestic crude oil trade Eric Dickson left the company to go to SOCAR Trading North America, the Reuters agency reported with reference to three different sources familiar with the situation. “Dickson, who left the company at the end of July, was mainly involved in crude oil trading operations in North Dakota,” said Marc Jensen, […]

SOCAR – Permanent Main Taxpayer of Azerbaijan
Azerbaijan Materials

SOCAR – Permanent Main Taxpayer of Azerbaijan

Tax payments of SOCAR to the state budget of Azerbaijan in January-July of 2017 amounted to 914 million 566 thousand manats, which is 15.9% more than the same period last year. As reported by the press service of SOCAR, in July the volume of tax deductions of the company to the state budget amounted to 128 million 954 thousand manats. […]

EBRD to Consider Issue of Lending to TANAP
Azerbaijan Materials

EBRD to Consider Issue of Lending to TANAP

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) on October 18 will consider the issue of a $ 500 million loan for financing the construction of the Trans-Anatolian gas pipeline (TANAP), the bank said. The EBRD intends to provide a loan to CJSC Southern Gas Corridor (SGC) under the guarantee of the Azerbaijani state. The […]

Muradkhanli Block First to Start Production This Year
Azerbaijan Materials

Muradkhanli Block First to Start Production This Year

Production at the M-66 well of Muradkhanli field has been resumed. This was spread by the Canadian company Zenith Energy Ltd., operator of the Muradkhanli-Jafarli-Zardab block of fields. Agency Turan notes that for the first half of 2017 oil production was not carried out in this block. Well No. M-66 was drilled back in 1978. In the peak period, the […]

SOCAR studies Bulgarian supply options
Azerbaijan Materials

SOCAR studies Bulgarian supply options

Bulgarian gas transmission system operator Bulgartransgaz and Azerbaijan’s state-run Socar signed an MOU July 18 to look into shipping natural gas to Bulgaria and transporting it on to other southeastern European countries. According to Socar sources,  the company’s Balkan subsidiary will study options for supplying additional amount of gas to Bulgaria beyond the existing contract for 1bn m³/yr of gas […]

S & P about Creditworthiness Risks of SOCAR
Azerbaijan Materials

S & P about Creditworthiness Risks of SOCAR

The international agency S & P Global Ratings placed a long-term corporate credit rating “BB” of SOCAR in the list of CreditWatch Negative (“ratings on revision with negative expectations”), the agency reports. “The placement of the SOCAR rating on the CreditWatch list reflects the uncertainty as to whether a possible significant deterioration in the assessment of its own creditworthiness (SACP) […]

SOCAR will increase production at the gas field
Azerbaijan Materials

SOCAR will increase production at the gas field

SOCAR plans to commission two production wells in the Bulla Deniz seabed gas condensate field within three months. According to SOCAR, Well No. 78, which is being drilled from Offshore Platform No. 6, will be put into operation in July. The daily production rate of this well is expected to be 150 tons of condensate and 500,000 cubic meters of […]

Export of Gas from Shah Deniz to Turkey Falls by 4%
Azerbaijan Materials

Export of Gas from Shah Deniz to Turkey Falls by 4%

The export of Azerbaijani gas produced within the framework of the Shah Deniz-1 project in January-April 2017 amounted to 2,173.71 mcm. According to the Council on Regulation of the Energy Market of Turkey (EPDK), this is 3.8% lower than the same period of 2016. In April 2017, the export of Azerbaijani gas to Turkey amounted to 576.84 mcm. At the […]

Head of SOCAR and Georgian PM Discuss Cooperation Issues
Azerbaijan Materials

Head of SOCAR and Georgian PM Discuss Cooperation Issues

Rovnag Abdullayev, the President of the State Oil Company of Azerbaijan (SOCAR), made a working visit to Georgia, within the framework of which he met with Georgian Prime Minister Georgi Kvirikashvili, the press service of SOCAR reported. “Within the framework of the working visit to Georgia, SOCAR President Rovnag Abdullayev discussed issues of cooperation with Prime Minister Georgi Kvirikashvili,” the […]