Azerbaijan, Baku, Jan. 28 / Trend , E.Ismayilov /
Dividends of the State Oil Fund of Azerbaijan Republic (SOFAZ) from the main export Baku-Tbilisi-Ceyhan pipeline will be about 140 million dollars in 2009, SOFAZ Executive Director Shakhmar Movsumov said at the press conference.
BTC Company Shareholders includes: BP (30.1 percent); AzBTC (25 percent); Chevron (8.90 percent); Statoil Hydro (8.71 percent); ТРАО (6.53 percent); Eni (5 percent); Total (5 percent); Itochu (3.40 percent); Inpex (2.50 percent); ConocoPhillips (2.50 percent) and Amerada Hess (2.36 percent).
The funds from the Azeri-Chirag-Guneshli (ACG) field accounts for overwhelming part of the Fund. Few incomes accounts for gas from the Shah Deniz field. The gas incomes are expected to be increased after conclusion of the second development phase of Shah Deniz field.
The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants include: BP (operator) (25.5 percent); Statoil (25.5 percent); Socar (10 percent); LukAgip (10 percent); NICO (10 percent); Total (10 percent); and TPAO (9 percent). Gas production at Shah Deniz began in December 2006. Gas is presently transported to Georgia and Turkey via the South Caucasus Pipeline.
In the second quarter of 2008, the share of Azerbaijan in profitable oil within the Azeri-Chirag-Guneshli field reached its highest level to 80 percent. Currently companies have already returned the invested funds and new investments are paid off due to produced oil, Movsumov said.
BP is the operator of the ACG development project. The Azeri Light is produced from ACG and is exported via the Baku-Tbilisi-Ceyhan pipeline.
This year, SOFAZ does not expect revenue bonuses from foreign companies in developing fields in Azerbaijan. In 2008, the bonus incomes to SOFAZ amounted 2.8 million manats.
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