SOCAR and Petrofac Set up Joint Venture to Train Oil Industry Workers
SOCAR and British Petrofac have set up a joint venture to train oil industry workers. The parties signed the foundation agreement of the joint venture…
Gazprom resuming gas deliveries to Azerbaijan
Gazprom Export and the State Oil Company of the Azerbaijan Republic (SOCAR) reached an agreement to resume natural gas supplies to Azerbaijan. A contract to that effect was signed in Moscow on November 21,…
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….
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…
Revenues of SOCAR Trading Increased by 14% in 2016
The revenues of SOCAR Trading SA (the “daughter” of SOCAR) in 2016 amounted to $ 25.9 billion, which is 14.1% higher than in 2015, the…
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…
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…
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…
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…
TAP Announces New Management Team
Trans Adriatic Pipeline AG (TAP) announced the appointment of Luca Schieppati as Managing Director and Walter Peeraer as President, both starting on 27th June 2017….
SOCAR Pending Opening of New Large Gas Field
In case of discovering commercially attractive gas volumes, production at the deep-water block Shafag-Asiman in the Azerbaijani sector of the Caspian Sea may begin in…
Tehran Approves SOCAR’s Participation in Oil and Gas Projects in Iran
SOCAR plans to take part in the implementation of oil and gas projects in Iran, Azerbaijani media reported with reference to Iran’s Deputy Oil Minister…
Azneft Announces Production Figures
The production association Azneft (production structure of SOCAR) in January-April of 2017 produced 2 million 39.9 thousand tons of oil and 1,693.136 mcm of gas….
SOCAR Starts New Production Well in Caspian Sea
SOCAR has commissioned a new well at the Neft Dashlary (Oil Rocks) deposit, the company’s website said. Well No. 2668 was drilled from offshore platform…
SOCAR increased budget payments by 19%
The State Oil Company of Azerbaijan Republic (SOCAR) transferred 133,659 million AZN to state budget in April, 2017. Report informs referring to SOCAR, it is…
Gas Leaking from Platform No. 7 of SOCAR – Personnel Evacuated
A gas leak occurred yesterday at well No. 319 on the platform No. 7 in the shallow part of the Gunashli field, the State Oil…
Drilling of new well launched at Oil Rocks
Drilling of well No. 2666 at “Oil Rocks” on the stationary platform No. 602A continues successfully. Report informs citing the State Oil Company of Azerbaijan…
New Type of Gas Contract to Be Realized in Azerbaijan for First Time
The Parliamentary Committee on Natural Resources, Energy and Ecology recommends Milli Majlis of Azerbaijan to approve the Risk Service Contract for exploration and development of…
TAP says soon to resume work in Italy to remain on schedule
The consortium constructing the Trans Adriatic Pipeline (TAP) will soon resume the work to remove the olive trees on TAP’s route in Italy. “Following…
Six platforms will be built at “Bulla Deniz” field until 2025
In accordance with the full-scale development program of “Bulla Deniz” offshore field in Azerbaijani sector of the Caspian Sea, 6 platforms are planned to be built here…
Agreement for construction of new bitumen plant signed
The Oil Refinery named after Heydar Aliyev hosted an official signing ceremony of the agreement with “Azfen” for construction of a new bitumen plant. Report informs referring to…
US Interested in Azerbaijani Gas Projects
The US is closely following the implementation of the Southern Gas Corridor project, and its support by Washington remains stable and long-lasting, US Ambassador to…
SOCAR President meets with Iranian Oil Minister
A delegation led by SOCAR President Rovnag Abdullayev, who is on visit to Iran, has met with Oil Minister of the Islamic Republic of Iran,…
BP: We Want Platforms on ACG to Carry Out Production Smoothly and Reliably
BP plans to conduct a number of works to stabilize oil production in the Azeri-Chirag-Gunashli (ACG) block of Azerbaijani fields, BP-Azerbaijan President Gordon Birrell told…