Azerbaijan to Double Oil Production

Thursday, March 29, 2007
Azerbaijan plans to double its oil output by 2010, the country's energy minister said Wednesday. Azeri Energy Minister Natiq Aliyev said the Caspian nation's crude production, which stood at 32.3 million tons last year, would reach 65 million tons in 2010. Aliyev said most of the oil would be produced at the Azeri-Chiraq-Guneshli offshore fields. Another offshore field, the Shah Deniz gas project, will account for the bulk of the nation's natural gas output, which is expected to reach 30 billion cubic meters in 2010. Crude supplies began last year via the $4 billion Baku-Tbilisi-Ceyhan pipeline that allows the West to tap oil from the Caspian Sea fields.

Washington staunchly supported the 1,750-kilometer pipeline as part of a strategy to tap sources of crude outside of the Middle East and draw the Caspian states away from Russia. Gas supplies from Shah Deniz are soon expected to start flowing through a newly constructed parallel gas pipeline from Baku via Georgia to Erzerum in eastern Turkey. Aliyev said Azerbaijan would eventually control marketing and sales of gas from the Shah Deniz. Source: AP, MT

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Fundraiser Held for USS Gerald R. Ford Crew

Blackmer, a company in positive displacement and centrifugal pump and reciprocating compressor technologies, has a relationship with the U.S. Military that dates

Meercat Workboats Scores a Hat-trick

The U.K.’s Meercat Workboats says it scored a hat-trick; the Hampshire-based boat builder announced it is moving premises, that Seawork was a huge success and that

Northern Lights Opens Branch Office in Louisiana

Marine power generation and climate control products manufacturer Northern Lights has opened its fifth branch office, in Kenner, La, to enhance service to Gulf

Finance

Baltic Index Rises for Fifth Consecutive Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday for a fifth straight session on stronger demand across all vessel segments.

Singapore Exchange, Baltic Exchange Continue Transaction Talks

Singapore Exchange (SGX) has agreed with the Baltic Exchange Limited (Baltic Exchange) to extend the period of exclusive discussions regarding a cash offer for

Hanjin to Return 38 Vessels Next Year

Hanjin Shipping is planning to return a total of 38 chartered vessels once their contracts end as part of its restructuring efforts, reports the Korea Herald. A

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1006 sec (10 req/sec)