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Tag: SOCAR

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…

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