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BP hit a milestone oil production in Azerbaijan

A BP unit working in the Caspian Sea unveiled a milestone for oil pulled from Azeri waters with its 3 billionth barrel since the start of production from the Chirag platform in 1997.

read more... 18/08/2016


Shah Deniz conglomerate grants $1.5 billion subsea production agreement

The consortium developing the second phase of Azerbaijan's Shah Deniz gas field has awarded a $1.5 billion subsea production agreement to a group involving Saipem, BOS Shelf and Star Gulf FZCO, as it stated on Tuesday.

read more... 04/05/2016


Asian Development Bank to grant $450 mln in loan to expand Shah Deniz II project in Azerbaijan

Azerbaijan state-run energy company Socar has applied for a $450mn loan from the Asian Development Bank (ADB) to bolster its Shah Deniz project.

read more... 30/03/2016


Shah Deniz field produced 64 billion cubic meters of gas during first phase of development

Energy-rich Azerbaijan extracted from its Shah Deniz field 64 billion cubic meters of gas from the commencing date of this project to September 1, 2015, according to the First Vice President of State Oil Company of Azerbaijan Republic (SOCAR) in Geology Geophysics & Field Development Issues, Khoshbakht Yusifzade.

read more... 29/09/2015


Azerbaijan's SOCAR hopes to restart negotiations with Greece over gas grid in December

Azerbaijan's state energy firm SOCAR hopes to restart negotiations over purchasing a stake in Greek gas grid operator DESFA in December, as stated by SOCAR's president on Monday.

read more... 15/09/2015