Azerbaijan, Baku, Sept. 28 /Trend E. Ismayilov/
Development partners of 'Azeri Chirag Guneshli' oil and gas field block in Azerbaijani sector of Caspian Sea are considering optimal short- and long-term exploitation of the block,a high ranking representative of SOCAR (State Oil Company of Azerbaijan) said on Thursday.
The meeting of managing committee on development of the block with participation of SOCAR administration, the Ministry of Economic Development, State Oil Fund, BP-Azerbaijan and representatives of other project partners was held on Thursday in Baku.
According to SOCAR representative, the oil production volume in 'Azeri Chirag Guneshli' was discussed.
"All the partners want to forecast short-term and long-term level of production and to implement the best exploitation ways according to the forecasts," the SOCAR representative noted.
The contract on development of major sea field Azeri Chirag Guneshli was signed in 1994. The extraction was launched in 1994.
The shares are allocated in following manner : BP (the operator) -36.78 percent, Chevron- 11.27 percent, Inpex- 10.96 percent, AzACG -11.65 percent, Statoil- 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itocu- 4.3 percent and Hess- 2.72 percent. Hess has sold its share to Indian ONGC, the transaction will be completed in the first quarter of 2013.