Over $68.2 billion has been invested in Azerbaijan’s oil and gas sector from 1995 till 2016 as part of the production sharing agreements, Rovnag Abdullayev, president of Azerbaijan’s state oil company SOCAR, said. “Currently, SOCAR successfully represents Azerbaijan in 17 production sharing agreements signed with 23 companies from 15 countries”, he said. At the same…
The direct flights can be established between Indonesia and Azerbaijan just like the ones, which are made between Indonesia and Turkey, Husnan Bey Fananie, Extraordinary and Plenipotentiary Ambassador of Indonesia to the Republic of Azerbaijan, said. Fananie made remarks at the meeting with a delegation of Caspian Energy headed by Natalya Aliyeva, president and editor-in-chief…
The Southern Gas Corridor (SGC) will bring tens of billions of net profit to Azerbaijan in 2018-2019, President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev said. “Shah Deniz 2 is one of our most promising projects. The development of the huge Shah Deniz field, which has around 1.2 trillion cubic meters of…
Iranian companies have invested $2.6 billion in Azerbaijan’s economy, Azerbaijan’s Deputy Economy Minister Sahil Babayev said. The deputy minister said that only $145 million of this amount was invested in the non-oil sector. Around 450 companies with Iranian share operate in Azerbaijan, Babayev added. “The relations between Azerbaijan and Iran have entered a new phase.…
Opening Iran-Khodro’s new site in Azerbaijan will turn Azerbaijan into the company’s export hub in Central Asia and the Caucasus. Iran-Khodro plans to manufacture 10,000 cars per year in Azerbaijan, which will be exported. Car imports to Azerbaijan fell after introducing the Euro-4 ecological standard over a year ago. In the first half of 2015,…
Azerbaijan’s state oil company SOCAR intends to diversify its financial channels, the company’s president Rovnag Abdullayev reported. He made the remarks during the presentation of SOCAR bonds for Azerbaijani citizens. Abdullayev pointed out that SOCAR was implementing a new strategy to strengthen its positions at the international level. Eurobonds have been issued successfully, he said,…
The Azerbaijani state oil company SOCAR plans to sign a new contract on the development of the Umid-Babek block of gas fields in the Caspian Sea by late 2016 to raise funds from international institutions and companies, Rovnag Abdullayev, SOCAR head, reported. “In general, the work is underway at the Umid field”, he said. “Drilling…