BP boosts associated gas delivery to Azerbaijan
Monday, February 23
In 2014, BP delivered 2.76 billion cubic meters of associated gas to Azerbaijan’s State Oil Company (SOCAR) versus 2.19 billion cubic meters in 2013, according to a BP report on its work in Azerbaijan in 2014.
BP operates the development of the Azeri-Chirag-Guneshli (ACG) block of fields in the Azerbaijani sector of the Caspian Sea.
The associated gas is delivered to SOCAR free of charge as part of the development of the ACG.
The average daily volume of associated gas delivered to SOCAR in 2014 amounted to 7.55 million cubic meters, according to the report.
In 2013, BP delivered 2.19 billion cubic meters of associated gas to SOCAR as compared to 3.4 billion cubic meters in 2012.
The contract for the development of the ACG was signed in 1994. The proven oil reserves at ACG are estimated at approximately one billion metric tons.
The share in the contract is distributed as follows: BP (operator of the Azeri-Chirag-Guneshli) - 35.78 percent, Chevron – 11.27 percent, Inpex – 10.96 percent, AzACG – 11.65 percent, Statoil – 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itocu – 4.3 percent and ONGC – 2.72 percent.