BP to complete drilling Shahdaniz appraisal well by mid-2012

BP to complete drilling Shahdaniz appraisal well by mid-2012 BP, the technical operator of Azerbaijan’s giant Shahdaniz gas field in the Caspian Sea, will complete the drilling of SDX-07a appraisal well by mid-2012, an energy market source told Trend news agency. The drilling of this well is carried out in the frame of the second stage of Shahdaniz development. The source said a new borehole is being drilled in “a normal mode”, and the current depth of the well is 4,700... Read More

Law on customs tariff developed in Azerbaijan

Law on customs tariff developed in Azerbaijan The State Customs Committee (SCC) of Azerbaijan has prepared a bill on the customs tariff and submitted it for endorsement to relevant departments, head of the SCC Aydin Aliyev said at a meeting dedicated to the 20th anniversary of the Azerbaijani Customs Committee. Currently customs tariffs in Azerbaijan are regulated on the basis of the law adopted in 1995. The customs tariff is a code of customs dues applied for goods transferred... Read More

SOCAR to place Eurobonds worth $500m

SOCAR to place Eurobonds worth $500m Azerbaijan’s state oil company SOCAR says it will place its debut Eurobonds with the UK Listing Authority and London Stock Exchange. The company has chosen Citigroup and Deutsche Bank to lead the issue, SOCAR said.. “Citigroup Global Markets Limited, Deutsche Bank AG (London branch) and the Royal Bank of Scotland act as joint lead managers, while Nomura International Plc and Société Générale S.A act as co-managers, the Deutsche... Read More

CESD is among in the top 3 think tank with annual operating budgets of less than $5 million USD in the world

CESD is  among  in the top 3 think tank with annual operating budgets of less than $5 million USD in the world The University of Pennsylvania’s (UPenn) Think Tanks and Civil Societies Program announced rankings of the leading public policy research organizations in the world in their annual Global “Go-To Think Tanks” report. The presentation of the report took place at the United Nations Headquarters in New York on January, 19, 2012. The report’s publication is the culmination... Read More

IMF: Iran sanctions could push oil to $140

IMF: Iran sanctions could push oil to $140 Sanctions on Iran could push oil prices up 30pc, taking the price of Brent crude to above $140 a barrel, the IMF has warned, Telegraph reported. In a note to G20 deputies, the IMF said that sanctions by OECD nations could cut 1.5m barrels per day (bpd) from supplies, causing a “large effect on prices” unless replacement supplies were found. “A halt of Iran’s exports to OECD economies without offset from other sources... Read More

CESD Statement Approved; Azerbaijan doubled gas export to Russia

CESD Statement Approved; Azerbaijan doubled gas export to Russia Center for Economic and Social Development (CESD) reported in September, 2011 that gas export from Azerbaijan to Russia would be doubled early 2012. CESD received information from its sources in Azerbaijan Government about secret gas negations between two countries. That time CESD statement was broadly addressed by different mass-media institutes as well as international organizations (Statement is available in Russian... Read More

EU expects decision on trans-Caspian pipeline by June

EU expects decision on trans-Caspian pipeline by June A final decision on whether to go ahead with the trans-Caspian pipeline project may be made in June, EU Energy Commissioner Gunther Oettinger told Russian Interfax news agency. Oettinger said the negotiations between the European Commission and Turkmen and Azerbaijani officials were “intensive” yet “constructive”. He added that the next meeting on the project will take place in a few days in Frankfurt. The... Read More

Shah Deniz-2 project to transport 16bn cubic meters of gas annually

Shah Deniz-2 project to transport 16bn cubic meters of gas annually Azerbaijan will annually transport 16bn cubic meters of gas to Turkey within “Shah Deniz-2” project. Of the 16bn, Turkey will use 6bn and export the rest 10bn to Europe, according to SOCAR,Gun.Az reported. According to an agreement signed in Izmir, the current system will transport the Azerbaijani natural gas via Turkey. Construction of an alternative pipeline is considered in this connection. Reportedly,... Read More

CESD is the best think tank in EaP region

CESD is the best think tank in EaP region “The best think tank from EaP countries is Azerbaijani Center for Economic and Social Development (CESD)”- Portal on Easter Partnership (http://eastbook.eu/en/) reported based on the World Think Tank Ranking for 2011. According to the University of Pennsylvania rankings (http://www.gotothinktank.com/2011-global-tank-index/) , a result of surveys 6,545 think tanks from 182 countries as well as from 1500 scholars and peer review... Read More

Chirag Oil Project to launch production next year

Chirag Oil Project to launch production next year Construction work is under way in accordance with Chirag Oil Project and the production within this project is expected to launch in 2013. To date, the field has produced 1.9bn barrels of oil, according to BP, Gun,Az reported. Currently, Azeri, Chirag, Darinsulu Guneshli oil field produces 750,000 barrels of oil per day. Note that the oil production the Chirag section of the field was launched in 1997. In the second stage,... Read More