Batumi Oil Terminal continues handling of Azerbaijani light oil
Azerbaijan, Baku, April 22 / Trend E.Ismayilov A.Maratov /
The Batumi Oil Terminal owned by the Kazakh KMG will transport about one million tons of Azerbaijani light crude oil by late 2011, the chairman of the Batumi Industrial Holdings Abay Turikpenbayev told Trend. The terminal will handle the volume accounted for the U.S. Exxon under the contract for the development of the Azerbaijani block of Azeri-Chirag-Guneshli (ACG) fields.
Turikpenbayev said Exxon transports a part of its oil through the Baku-Supsa pipeline and ships from the Supsa terminal. The rest is shipped through the oil Batumi terminal, where it is delivered from Baku by railway.
He said the contract with the American company was extended for five years in 2010. ACG participating interests are: BP (operator - 37. 4%), Chevron (11.3%), SOCAR (10%), INPEX (11%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.7%), ITOCHU (4.3%), Hess (2.7%).
The ACG fields' reserves are estimated at 925 million tons of oil and 280 billion cubic meters of gas.