...

SOCAR announces associated gas volume from ACG block of fields in 2014

Oil&Gas Materials 29 January 2015 16:57 (UTC +04:00)

Baku, Azerbaijan, Jan. 29

By Emil Ismayilov - Trend:

SOCAR (State Oil Company of Azerbaijan) received 2.8 billion cubic meters of gas from the block of oil and gas fields Azeri-Chirag-Guneshli (ACG) in the Azerbaijani sector of the Caspian Sea in 2014, a source in SOCAR told Trend Jan. 28.

Associated gas as part of the ACG development is supplied to SOCAR free of charge.
"As of 2014, the volume of gas obtained by SOCAR increased compared to 2013," the source said.

According to the British BP, SOCAR received 2.19 billion cubic meters of gas in 2013 compared to 3.4 billion cubic meters in 2012.

Azeri-Chirag-Guneshli block of fields is located in the Azerbaijani sector of the Caspian Sea.
The contract for development of ACG field was signed in 1994. The proven oil reserve of the block nears 1 billion metric tons.

The shareholders of the project are: BP (operator in 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.

---

follow the author on Twitter: @Emilsmail

Edited by CN

Tags:
Latest

Latest