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BP-led Group Extends Huge Azerbaijan Oil Field Deal to 2050

BP-led Group Extends Huge Azerbaijan Oil Field Deal to 2050

BP signed a contract with the government of Azerbaijan today to extend a production sharing deal until 2050. A group led by BP agreed with the State Oil Company of the Republic of Azerbaijan (Socar) to continue developing the huge Azeri Chirag fields and the deep water portion of the Gunashli field …

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SOCAR Allocates Fuel for Firefighting Measures in Borjomi Gorge

SOCAR has allocated fuel for firefighting activities in Borjomi Gorge, the company statement reads. “Regretfully, natural disaster has annihilated a major part of the woodland. Rescuers and firefighters continue fire liquidation measures. It is necessary to stand united and render assistance today and contribute to the woodland restoration in the …

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SOCAR Planning to Increase Gas Production in Coming Years

SOCAR planning to increase gas production in coming years

Azerbaijan’s state oil company SOCAR is looking to increase production of natural gas in coming years, the company’s head Rovnag Abdullayev said in his interview with Reuters. In coming years, said Abdullayev, the country expected to put on stream several gas fields that would provide much-needed output growth. “We aim …

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SOCAR Drilling New Well in Caspian Sea

Azerbaijan’s state oil company SOCAR will additionally produce nearly 7,300 tons of oil annually once it commissions a new well which is being drilled at the Western Absheron offshore field, SOCAR said in a message available on its website. The well’s projected depth is 770 meters. According to geologists, 20 …

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SOCAR’s Kulevi Terminal to Increase Unloading Capacity

The Black Sea terminal of Azerbaijan’s state oil company SOCAR in Kulevi, Georgia, plans to increase its fuel oil unloading capacity, reads a message on the terminal’s website. This is to be carried out through the implementation of a project that will increase the unloading capacity of trestles #3 and …

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SOCAR Foreign Investments Near $4.5B

As of January 1, 2017, Azerbaijan’s state oil company SOCAR invested almost $4.49 billion in projects abroad, a source in the company told Trend June 16. The greatest share of the company’s investments – $3.334 billion – accounted for projects in Turkey, according to the source. “As much as $414.5 …

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Special Announcement of SOCAR Energy Georgia

Special Announcement of SOCAR Energy Georgia

Several news agencies have spread information as of security service of SOCAR Energy Georgia had set up a watch on Afgan Mukhtarli. We stress that the spread information is a lie and slander. This information does not reflect the reality and SOCAR Energy Georgia has no relation with this fact. …

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TAP to Ensure More Sustainable Energy Future for Europe

TAP to Ensure More Sustainable Energy Future for Europe

The Trans Adriatic Pipeline (TAP) project, which envisages delivery of Azerbaijani gas to Europe, will ensure a more sustainable energy future for this continent, said the country manager of TAP AG consortium for Greece Rikard Scoufias. He pointed out South-Eastern Europe is a region that could benefit most from the …

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