Azeri gas output to reach 40bn cubic meters by 2025

Azeri gas output to reach 40bn cubic meters by 2025 Gas production in Azerbaijan will reach 40 billion cubic meters (excluding injection) by 2025, according to forecasts, president of Azerbaijan’s state energy company, SOCAR, Rovnag Abdullayev, said on September 07, 2012. He noted that the figure will be 20 billion cubic meters by 2015. Abdullayev said $50 billion has been invested in the PSA contracts in Azerbaijan so far.  Read More

SOCAR: “only one route will be selected for transportation of Azerbaijani gas to Europe”

SOCAR: “only one route will be selected for transportation of Azerbaijani gas to Europe” The transportation of not only Shahdeniz gas, but other gases will be taken into consideration during selection of route for transportation of Azerbaijani gas to Europe, said the President of State Oil Company of Azerbaijan Rovnag Abdullayev. According to him, for this reason, Azerbaijan’s gas extraction program for future will be main during the selection... Read More

Is SOCAR investment effecient?

Is SOCAR investment effecient? Most of the funds received by Azerbaijan’s state energy firm Socar from the placement of Eurobonds in the amount of $500 million were spent to pay the assets in Switzerland, purchased from Exxon Mobil, a Socar official told the Baku-based Trend news agency. Socar signed an agreement with Exxon Mobil to acquire its Swiss branch, Esso Schweiz GmbH, in November 2011. The company will operate under the brand name Esso... Read More

SOCAR Incurs Huge Debt, Raises Questions

SOCAR Incurs Huge Debt, Raises Questions CESD experts question the decision of SOCAR to incur long-term debt by issuing Eurobonds The State Oil Company of Azerbaijan (SOCAR) has completed the placement of debut issue of Eurobonds in London. The overall volume of orders applied by 290 investors made $4.6 billion.  The profitability of the initial placement of Eurobonds makes annual 5.45%. The date of payment for the initial issue is 9 February 2017. Eurobonds... Read More