Is new gas field?

Is new gas field? Azerbaijan’s state energy company Socar will start drilling a new well at the major Umid gas condensate field in the Azerbaijani sector of the Caspian Sea by mid-2012, a source at the company told local news agency Trend on Monday. The process of drilling the third well will start in May or June 2012, the source said. “Work on drilling the second well has already completed, and after completion of development, drilling of the... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More