This study investigates the impact of oil prices on economic growth, export, inflation and exchange rate in Azerbaijan, employing Johansen cointegration and VECM methods to the data spanning from January, 2005 to January, 2019. The results from the Johansen cointegration method confirm the presence of a long-run relationship among the variables. Estimation results impulse-response and variance decomposition tests reveal that there is a positive and statistically significant impact of oil prices on economic growth, export and inflation for the Azerbaijani case. On the other hand, we find that oil prices have a negative impact on exchange rate. The results of this article will suggest to researchers and policy makers to comprehend the role of oil price shocks on economy in the case of Azerbaijan and other developing oil-rich countries.

In a deviated well in Caspian Sea gas oil ratio (GOR) increased rapidly in 2017. The result was an oil rate decline with several choke backs to manage GOR build-up. After performing two production-logging jobs, it was confirm that 76% of the gas production was coming from four upper perforations. The main objective was to perform a Gas Shut off (GSO) treatment in two stages to reduce gas production by squeezing polymer into the formation and setting packers at 59° deviation inside 9-5/8 in. casing for temporarily isolation of middle and lower production sands. Fifteen runs were perform with a tube wire-enabled CT telemetry (CTT) system which consists of a customized bottomhole assembly (BHA) that instantaneously transmits differential pressure, temperature, depth data to surface through a non-intrusive tube wire installed inside the CT. For the first time in the region, a tension, compression and torque (TCT) sub-assembly was deploy to control the entire set/retrieve process with accurate downhole upward/downward forces. CTT technology was a key element to successfully set two Thru Tubing Inflatable Retrievable Packers (TTIRP) by doing casing collar locator (CCL) correlations at tubing end which was 133 m and 228 m (MD) shallower from setting depths. In addition, during second GSO operation, polymer crosslink time was modify based on actual bottomhole temperature recorded with CTT system. Finally, during third GSO treatment placement was improve spotting more GSO system in casing section avoiding further treatments. After successful placement of the GSO system, a drop from 15.5 to 4.5 MMscf/day in gas production was observed along with GOR reduction from 11,000 to 750 MMscf/bbl and oil rate increment from 1.4 to 6.04 Mbpd. Furthermore, after gas reduction operator was able to produce between 1.5 to 2.0 Mbpd from other wells that were choke back based on gas handling capabilities limitations The novelty of using the CTT system and TCT sub-assembly for real-time monitoring of BHA data was proven for not only positioning two TTIRP, modifying polymers crosslink design, placing polymer precisely across target intervals and retrieve two TTIRP that at the end provide direct and positive financial impact for the operator.

Summary In a deviated well in the Caspian Sea, the gas/oil ratio (GOR) increased rapidly in 2017. The result was an oil rate decline with several choke backs to manage GOR buildup. After performing two production-logging jobs, it was confirmed that 76% of the gas production was coming from four upper perforations. The main objective was to perform a gas shutoff (GSO) treatment in two stages to reduce gas production by squeezing polymer into the formation and setting packers at a 59° deviation inside a 9⅝-in. casing for temporary isolation of the middle and lower production sands. Fifteen runs were performed with a tube wire-enabled coiled tubing (CT) telemetry (CTT) system that consists of a customized bottomhole assembly (BHA) that instantaneously transmits differential pressure (DP), temperature, and depth data to the surface through a nonintrusive tube wire installed inside the CT. For the first time in the region, a tension, compression, and torque (TCT) subassembly was deployed to control the entire setting/retrieval process with accurate downhole upward/downward forces. CTT technology was a key element to successfully set two through-tubing inflatable retrievable packers (TTIRPs) by performing casing collar locator correlations at the tubing end, which was 133 and 228 m [measured depth (MD)] shallower from the setting depths. In addition, during the second GSO operation, the GSO gel system crosslink time was modified on the basis of the actual bottomhole temperature (BHT) recorded with the CTT system. Finally, during the third GSO operation, treatment placement was improved, spotting more GSO gel system inside the casing section and avoiding further treatments. After successful placement of the GSO gel system, a drop from 15.5 to 4.5 MMscf/D in gas production was observed (GOR reduction from 11,000 to 750 MMscf/bbl) with an oil rate increment from 1.4 to 6.04 Mbbl/D. Furthermore, after the gas reduction, the operator was able to produce between 1.5 and 2.0 Mbbl/D from other wells that were choked back on the basis of gas handling capabilities limitations. In the short term, GOR reduction sustained at 3,000 MMscf/bbl and 3.0 Mbb/D oil rate. The novelty of using the CTT system and TCT subassembly for real-time monitoring of BHA data proved to be beneficial for positioning two TTIRP, modifying GSO gel system design, placing it precisely across target intervals, and retrieving two TTIRPs that in the end provided direct and positive financial impact for the operator.