News Archive

26 September 2017

SPM certificates awarded at Baku Higher Oil School

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Second group of students of School of Project Management (SPM) functioning at Baku Higher Oil School (BHOS) passed course exams and received certificates of successful completion of the first training module. Presenting the certificates, BHOS Rector Elmar Gasimov expressed his congratulations to the program participants and wished them every success in the further studies.

The group of SPM trainees consists of staff members of various companies and organisations including SOCAR, BP, Atlantic Waste Solutions, PAŞA Həyat Sığorta ASC and Pasha Holding. Within the course entitled “Scheduling and cost control”, the students learned how to identify, assign, and tabulate resource requirements; predict costs and work time using specific levels and estimate types; plan for contingencies and anticipate variations; and monitor changes and close out projects on time. They also learned a sound, logical framework for scheduling and controlling project activities and mastered techniques for estimating, forecasting, budgeting, monitoring, controlling, analysing, and reporting costs and interpreting the meaning of earned-value data. The course was conducted by instructor from TwentyEighty Strategy Execution John Pelham, who has more than 20 years of project management experience in various fields.

The SPM is a joint public-private partnership initiative implemented with financial support from BP and its partners, organisational support from BHOS and technical support from TwentyEighty Strategy Execution, leading international company providing education in the field of project management. The academic program is taught to professionals in various fields and is comprised of seven training modules. Upon successful completion of the study, the trainees will be awarded Master certificate from the George Washington University. Recently, SPM announced admission of a next group of trainees.

25 September 2017

SOCAR representatives visit TAP construction site

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Representatives of AzTAP GmbH, managed and operated by SOCAR Midstream Operations LLC, attended the meeting of TAP AG Board of Directors. Afterwards, the delegation visited Western Macedonia (Greece), which is the part of the TAP construction site, inspected the pipeline construction process in Pella, and observed automated welding and trenching of the pipeline. A visit of SOCAR representatives was organised to the Area of Cultural Heritage as well. It should be noted that, currently, development of TAP project makes 52.8% in Greece and 57% overall.

25 September 2017

Eighteen graduates of Baku Higher Oil School started working at Azneft

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Eighteen graduates of Baku Higher Oil School (BHOS) with Bachelor Degree in Petroleum Engineering started working at SOCAR’s Azneft Production Union. A meeting with new staff members gathered SOCAR Vice President for Geology and Geophysics Bahram Huseynov, SOCAR Vice President for Field Development Yashar Latifov, Azneft Director General Dashgin Iskenderov, and BHOS Rector Elmar Gasimov.

SOCAR Vice President for Field Development Yashar Latifov extended his congratulations to the Higher School graduates and wished them a successful professional career. “BHOS graduates have a big potential, as they are talented and well-trained young people who constantly aspire after new knowledge. I am confident that they will grow into excellent specialists,” he said. SOCAR Vice President for Field Development Yashar Latifov emphasised that implementation of large-scale international oil and gas projects in Azerbaijan requires young professionals possessing contemporary qualifications and skills. He said that new national specialists shall do their best to meet expectations of their teachers and managers.

In the words of Director General of Azneft Dashgin Iskenderov, it is important that future engineers obtain not only theoretical knowledge, but also practical skills. On-the-job training arranged by BHOS management helps them to apply their knowledge into practice. He said, “During the internship, BHOS students prove themselves as qualified and skilled specialists. We are very pleased to see them as our new employees.”

BHOS Rector Elmar Gasimov also congratulated the graduates and said that they should continue developing their professional qualification. “I am very proud of our first graduates who were invited to work so soon. It proves that we have created excellent conditions for professional training of the Higher School students and provided them with good opportunities for successful career,” he said. The Rector expressed his confidence that the undergraduates currently studying at BHOS would also become promising engineers. Elmar Gasimov informed that 30 graduates of the Higher School already started working at PETKIM and STAR facilities; seven persons became staff members of BP in Azerbaijan, while other graduates work now at Maire Technimont Group, Halliburton and other transnational companies.

Speaking at the meeting, Head of Production Department of Azneft Parviz Akhmedov and Head of Field Development Department of Azneft Farid Abadly told about the role played by young specialists in the Production Union activities and in the development of oil and gas industry of the country.

BHOS graduates Aytekin Gasimova and Roman Rahimly currently working at Azneft Production Union expressed their gratitude to management of SOCAR, Azneft and the Higher School, and promised to bear a name of BHOS graduates with honor.

At the end of the meeting, the BHOS graduates were presented with badges of staff members of Azneft Production Union.

21 September 2017

Representatives of SOCAR Midstream Operations Ltd visit Sangachal Terminal

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SOCAR Midstream Operations (SMO) subsidiary, established to provide representation, management, and operator services in international oil and gas pipelines projects, keeps focus on the implementation of the Southern Gas Corridor projects. MMC's Management, HSE and Technical Officers have recently been in the area of Sangachal Terminal expanded within the Shah Deniz-2 project. During the meeting, representatives of BP's Shah Deniz-2 project made presentations about the project progress and answered questions from SMO specialists. Following the presentation, SMO specialists got acquainted with the progress of the expansion of the Sangachal Terminal within the project. It was estimated that the construction and installation works for the expansion of Sangachal Terminal were continued at a fast pace. Thus, for September 2017, 99.8% of construction and installation works have been completed. At present, all major and auxiliary technological fields, except the Reservoir Park, are under completion. The completion of the project is continued as per schedule.

19 September 2017

Baku Higher Oil School develops cooperation with PUAS University

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Rector of Baku Higher Oil School (BHOS) Elmar Gasimov met with representatives of Faculty of Engineering of Piraeus Technology University (PUAS) Professor Panayotis Yannakopoulos and Associate Professor, Erasmus Coordinator Konstantinos-Stefanos Nikas. The Higher School’s Vice-Rector for Training, Science and International Relations Ramiz Humbatov and Chair of Process Automation Engineering Department Manafaddin Namazov also attended the meeting, which took place at BHOS.

Speaking about cooperation between BHOS and PUAS in the framework of Erasmus+ program, the Rector Elmar Gasimov touched upon issues of mutual interest and emphasised importance of further developing ties between two higher educational institutions. The guests also expressed their interest in strengthening partnership with the Higher School. The meeting participants discussed issues related to the development of bilateral cooperation in various spheres including students and teachers exchange programs, sharing educational and training materials, and developing joint Master degree program.

Within the visit, PUAS Professor Panayotis Yannakopoulos and Associate Professor, Erasmus Coordinator Konstantinos-Stefanos Nikas will conduct a training course for students and teachers of the Process Automation Engineering department at BHOS. They will visit the Higher School’s new campus, its laboratories, academic and other facilities. The representatives of Piraeus Technology University will also have a sightseeing tour around Baku.

Last year in the framework of the cooperation between BHOS and PUAS, fourth-year Process Automation Engineering undergraduates of Baku Higher Oil School Rahim Rahimly and Mammad Jabrayilov studied during a spring term at Piraeus Technology University in Athens. This year, fourth-year Process Automation Engineering student Ramziya Garazadeh goes to Greece to study during an autumn term at PUAS.

The Erasmus+ program is developed on the basis of Erasmus, a European Union student exchange program. It is the new program combining all the EU's current schemes for education, training, youth and sport. In 2016, BHOS signed a cooperation agreement with Piraeus Technology University within the Erasmus+ program aimed at developing bilateral exchange programs.

15 September 2017

Baku Higher Oil School starts new academic year

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Baku Higher Oil School hosted a ceremonial event dedicated to beginning of the new academic year and celebration of the Day of Knowledge on September 15. Before beginning of the event, the participants laid flowers to the memorial of the National Leader Heydar Aliyev. The event started with playing the National Anthem of Azerbaijan Republic. In his welcoming address, BHOS Rector Elmar Gasimov congratulated all attendees on this remarkable day and extended his special congratulations and best wishes to first-year students and their parents. The Rector reported that out of those 25 students who showed the highest score in the entrance exams for 2017/2018 academic year in 1st group of specialties and were granted with the presidential scholarship by a decree of the President of the Republic of Azerbaijan Ilham Aliyev, 24 persons chose to study at BHOS. He informed that the minimum passing score for admission to Process Automation Engineering department was 685 points and it already became record high in the country.

BHOS first 102 graduates already started to work at SOCAR, SOCAR AQŞ, SOCAR Polymer, SOCAR Upstream, and PETKIM and STAR in Turkey, as well as at transnational companies including BP, Maire Tecnimont Group and Halliburton. Other graduates were admitted to pursue either Master or Ph.D. degree at various well-recognized universities abroad including Hamburg-Harburg Technical University in Germany, Stanford University in the USA, Friedrich-Alexander University Erlangen-Nürnberg in Germany, and Colorado School of Mines in the USA.

Speaking at the ceremony, SOCAR President and Deputy of Milli Majlis of Azerbaijan Rovnag Abdullayev extended his congratulations to BHOS teachers, professors, staff members, students and their parents on beginning of the new academic year. He said study at the Higher School would help young people become highly trained engineers who would be capable to make significant contribution to the development of energy sector of the country.

Rovnag Abdullayev reminded that opening of a new campus of the Higher School with participation of the President of the Republic of Azerbaijan Ilham Aliyev took place on May 1, 2017. In his inauguration speech, President Ilham Aliyev highly appraised the BHOS successful activity and the new campus, the biggest in the region. Rovnag Abdullayev also emphasized that achievements of the Higher School are a vivid evidence that implementation of the appeal of President Ilham Aliyev to transform oil capital into human capital remains a priority for SOCAR.

Addressing the ceremony participants, BP Regional President for Azerbaijan, Georgia and Turkey Gary Jones expressed his satisfaction with the long-term and fruitful cooperation between BP and the Higher School. In his words, this partnership is aimed to support BHOS activities on training highly qualified engineers who can contribute to economic development of Azerbaijan.

Speaking at the ceremony, SOCAR First Vice President Khoshbakht Yusifzade and Deputy Head of office, Head of Science and Higher Education Department of the Ministry of Education of Azerbaijan Yagub Piriyev also congratulated the students and wished them successful study and professional career in the future.



On behalf of all BHOS students, Ahmed Gelenderli who graduated from the Higher School with a Bachelor degree in Chemical Engineering extended sincere gratitude to the President of the Republic of Azerbaijan, top management of SOCAR and BHOS, and professors of the Higher School. He wished all first-year students to become good students and professionals.

First-year students, their parents and principals of the schools they graduated from emphasized that the Higher School provides all necessary conditions and opportunities for education and professional development of undergraduates. They thanked BHOS staff for their efforts in providing high-quality theoretical and practical training to future engineers.

At the end of the ceremonial event, the first-year students admitted to BHOS in 2017/2018 academic year were presented with their student cards.

14 September 2017

Statoil delegation visits SOCAR

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On September 14, SOCAR President Rovnag Abdullayev received Lars Christian Bacher, Statoil's Executive Vice President for Development and Production International. Welcoming the guest, Mr. Rovnag Abdullayev spoke about long-term cooperation relations between SOCAR and Statoil, stressed that Statoil was one of the main partners of SOCAR in the projects of global importance such as Azeri-Chirag-Gunashli (ACG) and Baku-Tbilisi-Ceyhan. Pointing out today's signing of a new contract on ACG project until 2050 under agreed terms between SOCAR and co-venturers a remarkable event, Mr. Abdullayev stated that the new agreement once again demonstrated the confidence of foreign partners in the Azerbaijani economy, taking effective partnership to a new level.

Expressing gratitude for sincere reception, Mr. Lars Christian Bacher noted Statoil's successful operating in Azerbaijan already for 25 years and emphasised that the agreement signed today on extension of cooperation was the best gift for this anniversary. According to him, efficient and productive cooperation has been established with SOCAR in energy projects, as well as in socially significant events. Mr. Bacher said that operation within the ACG project were conducted in accordance with international standards. He expressed confidence that the ACG project would continue to occupy an important place in the international activity of Statoil for many years.

At the meeting, the sides discussed joint development of ''Garabagh'' field, ''Ashrafi'' and ''Dan Ulduzu'' structures by the SOCAR and Statoil, heard proposals, and exchanged views in this regard.

A wide range of issues of mutual interest were considered at the meeting.

14 September 2017

Press Release

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14 September 2017

The Azerbaijan Government and co-venturers sign amended and restated Azeri-Chirag-Deepwater Gunashli PSA
The Azerbaijan Government and the State Oil Company of the Republic of Azerbaijan (SOCAR), together with BP, Chevron, INPEX, Statoil, ExxonMobil, TP, ITOCHU and ONGC Videsh today signed the amended and restated agreement on the joint development and production sharing (PSA) for the Azeri, Chirag fields and the Deep Water Portion of the Gunashli Field (ACG) in the Azerbaijan Sector of the Caspian Sea. The contract is now subject to ratification by the Parliament (Milli Majlis) of the Republic of Azerbaijan.

The contract was signed in Baku today in the presence of H.E. President Ilham Aliyev of the Republic of Azerbaijan and a group of visiting senior government and state officials, by Rovnag Abdullayev, President of SOCAR, on behalf of the Azerbaijan Government, and by the representatives of the co-venturer companies.

BP will remain the operator in accordance with the amended and restated ACG PSA.

As part of the contract, the international co-venturers will pay a bonus of $3.6bn to the State Oil Fund of the Republic of Azerbaijan, and SOCAR will increase its equity share in the ACG PSA from 11.65 per cent to 25 per cent. During the next 32 years, there is the potential for more than $40bn capital to be invested in the ACG oil field.

Following completion of the contract, the new ACG participating interests will be as follows: BP, 30.37 per cent; AzACG (SOCAR), 25.00 per cent; Chevron, 9.57 per cent; INPEX, 9.31 per cent; Statoil, 7.27 per cent; ExxonMobil, 6.79 per cent; TP, 5.73 per cent; ITOCHU, 3.65 per cent; and ONGC Videsh Limited (OVL), 2.31 per cent.

Subsequent to this contract, SOCAR and its co-venturers have also agreed to progress engineering development work to evaluate an additional production platform in the ACG contract area.

Rovnag Abdullayev, SOCAR President, said: “Today is a significant day for Azerbaijan. It brings back the days, when we signed “The Contract of the Century”. Despite the challenging political and economic conditions of that time, thanks to the intense effort by our national leader Heydar Aliyev the first ACG contract was signed, laying the foundation of the future economic development of Azerbaijan. Since the signing of the first PSA in 1994, ACG has benefited from $33bn of investment, producing around 440 million tonnes of oil, and delivering directly more than $125bn of net profit to our country.

“Finalizing the negotiation process between SOCAR and the partner companies today, we have signed the new contract on the ACG project on agreed terms. The new contract is effective until the end of 2049. The terms of the new contract will take effect following their ratification by the Parliament (Milli Majlis) of the Republic of Azerbaijan, which will enable us to maximize the economic benefits for our country from ACG over the next 32 years. The terms of the new contract reflect the growing financial and technological potential of Azerbaijan and SOCAR. They also demonstrate the confidence of our foreign partners in the Azerbaijani economy, taking our effective partnership to a new level.”

Bob Dudley, Group Chief Executive of BP, said: “Over the past 23 years the Contract of the Century has truly transformed Azerbaijan, energy supplies to Europe and all of us who have worked so hard to make it a success. Today’s contract is perhaps an even more important milestone in the history of Azerbaijan as it ensures that over the next 32 years we will continue to work together to unlock the long-term development potential of ACG through new investments, new technologies and new joint efforts to maximise recovery. In light of that, I think it is fair to call this the Contract of the New Century.”

Notes to editors

• The existing ACG PSA was signed on 20 September 1994. Since that time around $33bn of investment has been made into the development of the ACG field.

• First oil was produced from the Chirag field on 7 November 1997. To date, the field has delivered around 3.2 billion barrels (around 440 million tonnes) of oil production, which has been exported to world markets, primarily via the Baku-Tbilisi-Ceyhan and Western Route Export pipelines.

• ACG has also delivered over 30 billion cubic metres of associated gas in total to the Government of Azerbaijan.

• In the first half of 2017, total production from ACG averaged 585,000 barrels per day.

• ACG currently has eight offshore platforms - six production platforms and two process, gas compression, water injection and utilities platforms. The platforms export oil and gas to the Sangachal Terminal, one of the world’s largest oil and gas terminals, onshore near Baku.

11 September 2017

SOCAR’s budget payments for August 2017

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SOCAR paid AZN 133 million 782 thousand to the State Budget for August of the current year that is AZN 17 million 321 thousand (14,9%) more than the same period of 2016. In general, for January-August 2017, SOCAR transferred AZN 1 billion 48 million 348 thousand (AZN 142 million 946 thousand or 15,8% more than the same period of 2016) to the State Budget.

Besides, the Company’s payment to the State Social Protection Fund amounted AZN 12 million 575 thousand in August. As a whole, the January-August payments to State Social Protection Fund totalled AZN 99 million 826 thousand (AZN 5 million 479 thousand or 5,8% more than the same period of 2016).

8 September 2017

BTC transported 2.5 mln tons of Azerbaijani oil in August

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2 mln 484 thousand 700 tons of Azerbaijani oil were transported via BTC main export pipeline in August 2017. 18 mln 62 thousand 280 tons of oil were transported via this pipeline in January-August. In general, 339 mln 600 thousand 342 tons of oil have been pumped to BTC since the start of pipeline exploitation until September 1, 2017. In addition, overall 549 thousand 434 tons of Turkmen oil were pumped via BTC in August 2017.

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