BP announces liquids and gas production net share in Azerbaijan in 2011
Azerbaijan, Baku, March. 9 / Trend A.Badalova /
The BP's net share of liquids production in Azerbaijan hit 94,000 barrels per day compared to 103,000 barrels per day in 2010, BP Annual Report and Form 20-F 2011 says.
According to the report, the company's net share of production in the Azeri-Chiraq-Guneshli fields' development project in Azerbaijan amounted to 86,000 barrels per day in 2011 compared to 94,000 barrels per day in 2010.
The BP is operator of the Azerbaijani offshore "Azeri-Chirag-Guneshli" (ACG) oil and gas fields. The contract to develop Azeri-Chirag-Guneshli fields' development project was signed in 1994.
Participants to develop Azeri-Chirag-Guneshli are: BP (operator - 35.83 percent), Chevron (11.27 percent), Inpex (10.96 percent), AzACG (11.6 percent), Statoil (8.56 percent), Exxon (8 percent), TPAO (6.75 percent), Itocu (4.3 percent) and Hess (2.72 percent).
The BP's net share of gas production in Azerbaijan amounted to 140 million cubic feet per day (4 million cubic meters) in 2011 compared to 132 million cubic feet (3.7 million cubic meters) in 2010.
BP is technical operator of the Azerbaijani "Shah Deniz" offshore gas condensate field.
Gas reserves of this field are estimated at 1.2 trillion cubic meters.
The contract to develop the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 per cent, Statoil - 25.5 per cent, NICO - 10 per cent, Total - 10 per cent, LukAgip - 10 per cent, TPAO - nine per cent and SOCAR-10 per cent.