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Azerbaijan may get up to 80% of total income from ACG project AzBU Manager

Politics Materials 7 June 2006 14:52
Azerbaijan may get up to 80% of total income from ACG project  AzBU Manager

In case oil prices worldwide keep at $60/bbl and higher, Azerbaijan may get up to 80% of total income from development of Azeri-Chirag-Guneshli project, reportedly said David Woodwarth, head of BP Azerbaijan, speaking in Baku at В"Sustainable development of oil&gas operations in Caspian SeaВ" conference.

AzBU manager said Azerbaijan is getting nearly $3bn from sale of oil and taxes this year.

He also said that net cost of hydrocarbons production at ACG and Sahh Deniz remained $4.4/bbl and $2.75/bbl, respectively.

Capital investments up to the end of ACG development will amount $20bn. The fields reserves total 5.4bn bbl.

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