Azerbaijan, Baku, Sept.15. / Trend S.Aliyev /
The shareholders of the project on the development of the Azerbaijani "Azeri-Chirag-Guneshli" (ACG) offshore block have considered the proposals of SOCAR to the deep free gas at this field, a senior official of SOCAR said on Sept.15.
"The project's partners reviewed the commercial and technical conditions of SOCAR to develop deep gas. The negotiations on this project will be intensified in the next few days," the same source said. Deep gas reserves in the ACG field are estimated at 500 billion cubic meters.
The proposal submitted by SOCAR is a new approach, not recorded in the previous contracts, the source said earlier.
It is planned to develop deep gas under the new (separate) Production Sharing Agreement (PSA).
Under the contract signed by Azerbaijan in 1994, BP and its partners on the project "Azeri-Chirag-Gunashli" have the right to develop oil horizons to "break svita". At the same time, as stated in the contract, the development of the lower levels - is the subject of another agreement.
Under the agreement, which was signed with Azerbaijan in 1994, BP and its partners will develop oil horizons to Pereriv series. Lower horizons will be developed in accordance with a new agreement. There are hydrocarbon resources in Nadkirmakin, Podkirmakin and Gala series. According to Azerbaijani geologists, this is a gas and condensate. There may be discovered an oil ring, which will be additional liquid hydrocarbon resources.
The sides to the production sharing agreement on the Azeri-Chirag-Gunashli fields are BP (operator- 34.14 percent), ChevronTexaco (10.2 percent), SOCAR (10 percent), INPEX (10 percent), Statoil Hydro (8.56 percent), ExxonMobil (8.01 percent), TPAO (6.75 percent), Devon (5.63 percent), Itochu (3.92 percent) and Delta Hess (2.72 percent). Required investments total $20 billion.
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