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TPAO investments in Azerbaijani economy hits $4 billion

Oil&Gas Materials 28 December 2010 16:01 (UTC +04:00)

Azerbaijan, Baku, Dec.28 / Trend /

In 2009, total investments of the Turkish company TPAO within the Azerbaijani oil and gas projects amounted to more than $246.45 million, the company said.

TPAO's total investment in the Azerbaijani economy was around $3.9 billion in the period of the company's activity in the country.

TPAO invested roughly $176 million in the project of development of the block of the Azeri-Chirag-Guneshli (ACG) fields in 2009 compared to about $236 million in 2008 when financing it's a 6.75-percent share.

The company's investment in the project of the development of the Shah Deniz gas condensate field where the company possesses 9 percent of stakes made up amounted to $69.46 million in 2009 compared to roughly $72.2 million in 2008.

A summary table of TPAO's investments in different international projects in 2009:

Country

Investment in 2009

Total investment

Azerbaijan

246.452

3.921.435

ACG

175,968

2,884,572

Shah Deniz

69.462

552.440

South Caucasus gas pipeline

10

108.990

Alov

-

26.159

Kurdashi

-

17.302

BTC

9

324.336

TPAO Baku Office

1.003

7,636

 

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