Minimal volume of gas, that Gobustan Operating Company (GOC) intends to export to Azerbaijan from the Southwest, comprises 9.5 million cu feet (or 8.13 million cu m a month), according to Arawak Energy, which enters the PSA. Maximal volume of daily gas sale will comprise 60 million cu feet of gas (or 51.45 million cu m a month).
The purchase order on gas determines gas prices as $1.29 per 1 million BTU. GOC has started construction work under the project on construction of gas compressor station on the contract area for further gas delivery to Azerbaijan. . GOC is going to carry out first gas export in October 2005.
Capital expenses of GOC in 2005 were defined as $6.5 million, while $4m will spent on drilling 5 different wells on Southwest Gobustan.
GOC is an affiliated company, which is involved in the development of Southwest Gobustan under PSA concluded with the SOCAR. Commonwealth Gobustan Limited (CGL) holds 80% stake in GOC and the SOCAR вЂ" 20%. Arawak Energy retains 37.17% in CGL, while the rest part belongs to a group of companies China National Petroleum Company.
