New well drilled in Azerbaijan within Shah Deniz-2 project
All the work on drilling the SDD-03 well has been completed as part of the pre-drilling within the Stage 2 of development of Azerbaijan's Shah Deniz gas and condensate field.
Great Britain's BP is the operator for development of Shah Deniz field.
"The well with target depth of nearly 6,300 meters, was drilled with the 'Heydar Aliyev' drilling rig," said the source.
The source said that as part of the pre-drilling within the Shah Deniz-2 project, seven wells have already been drilled and after the completion of the work at SDC-04 and SDD-04 wells, the number of drilled wells will reach nine.
BP becomes shareholder of TANAP
Great Britain's BP and the Trans-Anatolian gas pipeline (TANAP) consortium have signed a share holder agreement, according to which BP will become one of the shareholders of TANAP. Under the agreement signed in Turkey BP will get a 12-percent share in the project.
Following the completion of the legal implementation procedure, TANAP's shareholders will be as follows: State Oil Company of Azerbaijan (SOCAR) - 58 percent, Botas - 30 percent and BP - 12 percent.
SOCAR places third dollar bonds issue
SOCAR (State Oil Company of Azerbaijan) has placed the third issue of dollar bonds in an amount which is lower than the expected volume by 25 percent, the agency Global Capital said.
The company had said in the roadshow it was looking for a deal of $1billion, investors and analysts said, though that number had not been confirmed by the leads or the company.
The 15-year note was priced at a yield to maturity of 6.95 percent, after leads Deutsche Bank and JP Morgan released price guidance in the 7 percent area earlier in the day.
Proceeds of this week's bond are being used 50 percent for capital spending related to the Star refinery in Turkey, and the remainder refinancing of short term debt and for general corporate purposes.