Major events in caspian countries' oil and gas industry for last week (Jan. 15-19)
Ilham Aliyev: SGC will be next contribution to European energy security
The Southern Gas Corridor project will be a next contribution to the energy security of Europe, said Azerbaijan's President Ilham Aliyev, while making press statements with Bulgarian Prime Minister Boyko Borissov in Baku on Jan. 15.
"Today we broadly discussed various aspects of our relations. We have reiterated that Bulgaria and Azerbaijan, as two friendly countries, will continue to cooperate successfully. In the economic sphere, we must try to increase the trade turnover between our countries. Presently, it is not at the proper level," Ilham Aliyev said.
He said that corresponding instructions are given so that concrete steps are taken in a short period of time to increase the turnover between the two countries.
"I believe that there are good opportunities for mutual investment and we will also work in this direction," said President Aliyev.
He stressed that the main topic of the talks was related to energy.
"As you know, we are partners in this sphere. Azerbaijan and Bulgaria together with other countries ensure the implementation of the Southern Gas Corridor. Azerbaijan has rich gas reserves. "
"Currently, Azerbaijani oil provides energy security of many European countries. In the near future, Azerbaijani gas will have the same function. The Southern Gas Corridor is being successfully implemented, and the Shah Deniz-2 project has been realized by 99 percent. Shah Deniz-2 is the main resource base for the Southern Gas Corridor. Furthermore, the TANAP project is scheduled to complete this year. This project has been implemented by 90 percent. Thus all the works run in accordance with the schedule. This grandiose project is being successfully implemented. After the implementation of the Southern Gas Corridor project, the issues of European energy security will be built on a stronger basis. We are glad that Azerbaijan is contributing to this matter," President Aliyev said.
SOCAR fulfills drilling plan for 2017
Azerbaijan's state oil company SOCAR drilled 115,200 meters in 2017 and fulfilled the set plan by 100 percent, a source in SOCAR told Trend Jan. 18.
"The volume of drilling stood at 115,200 meters as compared to the planned 115,180 meters," said the source. "Also, 71 wells were drilled and put into operation."
The company drilled 105,250 meters in 2016 as compared to 104,410 meters in 2015.
SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (the distributor of gas produced in the country) as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.