Baku, Azerbaijan, Oct. 31
By Elchin Mehdiyev – Trend:
The agreement on development of Azeri, Chirag and Gunashli (ACG) fields together with foreign companies has been extended until 2050.
A plenary session of the Azerbaijani parliament, held Oct. 31, discussed the draft law on adopting, approving, and issuing permission to implement the Agreement on Joint Development and Production Sharing for the Azeri and Chirag Fields and Deep Water Section of the Gunashli Field in the Azerbaijani Sector of the Caspian Sea, signed by SOCAR’s AzACG, BP Exploration (Caspian Sea) Limited, Chevron Khazar Ltd., Exxon Azerbaijan Limited, INPEX Southwest Caspian Sea Ltd., ITOCHU Oil Exploration (Azerbaijan) Inc., ONGC Videsh Limited, Statoil Absheron, and TPAO.
Following the discussions, the agreement was approved by voting.