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SOFAZ was established in Azerbaijan in 1999 and the Fund’s main source is revenues from the sale of oil and gas that account for the state share.
Read More »Azerbaijan Creating Formula for Maximum Limit Use of Oil Revenues
Azerbaijan. BP Extend Deal for Caspian Oil Field Until 2050
In the first half of 2017. the ACG field production averaged 585000 bpd from the six platforms.
Read More »BP Launches New Vessel for Shah Deniz Stage 2 Project
BP stated that the crane is capable of placing 750t subsea structures as far as 600m below sea level.
Read More »Baker Hughes Ready to Assist in TANAP’s Second Phase
TANAP project envisages transportation of gas from Azerbaijan'.s Shah Deniz field to the western borders of Turkey.
Read More »Norwegian Company to Provide Technology for Deep-Water Drilling at Azerbaijani Gas Field
Absheron’s reserves are estimated at 350 billion cubic meters of gas and 45 million tons of condensate. according to the estimations of SOCAR geologists.
Read More »SOCAR Launches Platform at Azerbaijani Offshore Field
In 2016. SOCAR produced 7.52 million tons of oil from Azerbaijan’s offshore and onshore fields. as compared to 8.16 million tons in 2015.
Read More »BP: Shah Deniz Stage 2 Completed by Over 95%
The construction and commissioning of the subsea construction vessel (SCV) ``Khankendi`` are progressing well at the Baku Shipyard.
Read More »SOCAR Gets 4 New Licenses in Turkey
It is expected that in 2018. the consolidated turnover of SOCAR Turkey Enerji will reach $15 billion.
Read More »SOCAR to Drill 8 Additional Wells at Offshore Field
SOCAR produced 3.71 million tons of oil from Azerbaijan’s offshore and onshore fields in January-June 2017. as compared to 3.78 million tons in the same period of 2016.
Read More »SOCAR. LUKOIL Eager to Acquire Assets in Turkish Market
LUKOIL owns a 10-percent stake in the consortium for the development of the giant Shah Deniz gas field in Azerbaijan.
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