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Norway's Equinor, SOCAR sign Caspian oil field deals

Norway's Equinor and Azerbaijani state oil company SOCAR signed a risk service agreement for the development of the Karabagh oil field in the Caspian Sea, Equinor said on Wednesday.

read more... 31/05/2018


BP ready to launch drilling operations of the first well in shallow waters of Absheron Peninsula

Vice-President for External Affairs of BP Company in Azerbaijan, Georgia and Turkey Bakhtiyar Aslanbeyli declared that BP Company intends to launch the drilling of the first well in promising structures in the shallow waters of Absheron Peninsula (SWAP) at the beginning of 2019.

read more... 07/05/2018


Iran wants to form common oil company with Azerbaijan

Iran wishes to create a joint oil firm together with Azerbaijan. Amir Hossein Zamaninia, the Islamic Republic’s Deputy Oil Minister for International and Commercial revealed that the company will be formed within the framework of an agreement recently inked between the two parties.

read more... 30/04/2018


EIB to offer 932-million-euro loan for Trans-Anatolian Pipeline

The European Investment Bank (EIB) Board decided to provide a loan estimated at EUR 932 million for the 1850 km Trans-Anatolian Pipeline (TANAP) to transport natural gas from Azerbaijan’s Shah Deniz-2 gas field to Europe.

read more... 16/03/2018


Iran and Azerbaijan to complete oil agreement by next month

Iranian oil minister, who met in Tehran Shahin Mustafayev, Azerbaijani Minister of Economy and Industry, affirmed that the oil negotiations held between Iran and Azerbaijan are positive and expressed the hope to finalize the talks successfully.

read more... 14/03/2018