AIOC invests over $43 billion in Azerbaijan’s energy projects

Photo: AIOC invests over $43 billion in Azerbaijan’s energy projects / Oil&Gas

Baku, Azerbaijan, July 16

By Emil Ismayilov - Trend:

Azerbaijan International Operating Company (AIOC) has invested a total of $43.1 billion in the projects for development of Azeri-Chirag-Guneshli and Shah Deniz fields, as well as the Baku-Tbilisi-Ceyhan oil pipeline and South Caucasus gas pipeline from 1995 to 2013.

BP plc, which is the operator of all the abovementioned projects, provided this information in its Sustainability Report 2013.

Around 2.3 billion barrels of oil was produced at the Azeri-Chirag-Guneshli block of oil and gas fields from 1997 to late 2013, according to the BP report.

The oil reserves of the Azeri-Chirag-Guneshli field are estimated at around a billion tonnes.

Some 47.3 billion cubic meters of gas and 99.5 million barrels of gas condensates have been produced at the Shah Deniz gas condensate field from 2006 to late 2013.

The proven gas reserves of the Shah Deniz field are estimated at 1.23 trillion cubic meters.

About 1.83 billion barrels (245.4 million tonnes) of oil was transported and supplied to the world market via the Baku-Tbilisi-Ceyhan oil pipeline from 2006 to late 2013.

BTC Co. shareholders are: BP (30.1 percent), AzBTC (25 percent), Chevron (8.9 percent), Statoil (8.71 percent), ТРАО (6.53 percent), Eni (5 percent), Total (5 percent), Itochu (3.4 percent), Inpex (2.5 percent), ConocoPhillips (2.5 percent) and ONGC (2.36 percent).

The pipeline's pumping capacity is 1.2 million barrels of oil per day.

Edited by CN

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