Excerpt from Caspian Investor by Ilya Kedrov
During the first quarter, Azerbaijani authorities recognized development in both the domestic economy and the oil and gas sector. Successes included a 63 percent increase in domestic investment, growth in natural gas production, the rapid commissioning of two new offshore rigs at the “Oily Rocks” deposit, restoration of oil production at Azeri-Chyrag-Guneshli, the republic’s largest upstream project, and the commissioning of the Bakhar-Govsany-Surakhany gas pipeline, among other positive developments. Despite exploring several directions for gas export, however, Baku’s strategic plan still sees the basic direction as moving to Europe.
Read More: Azerbaijan Raises Export Potential Significantly (free)
Tuesday, June 9, 2009
Azerbaijan: Avoiding the Crisis and Increasingly Optimistic
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