SOCAR plans to sign new PSA contract
Azerbaijan, Baku, April 10 / Trend, E.Ismayilov /
By late 2012 the State Oil Company of Azerbaijan (SOCAR) plans to sign a contract with the participants of a project on the development of the Azeri-Chirag-Gunashli (ACG) oil and gas fields' block to develop a deep-bed gas in this block, SOCAR President Rovnag Abdullayev told journalists on Tuesday.
"The work is nearing completion, the last details are being clarified, and likely the issue will be solved by late 2012," he said.
He said the ACG project members will become members of the new perfected PSA contract. With regard to the project operatorship, Abdullayev said that it will be the same as in the ACG project.
BP is operator in the ACG project.
ACG participating interests are: BP (operator - 35.78 per cent), SOCAR (11.65 per cent), Chevron (11.27 per cent), INPEX (10.96 per cent), Statoil (8.56 per cent), ExxonMobil (8 per cent), TPAO (6.75 per cent), ITOCHU (4.3 per cent) and Hess (2.72 per cent).