BP Azerbaijan has new president (UPDATE)

Oil&Gas Materials 2 November 2012 12:48 (UTC +04:00)
Details added (the first version was posted at 12:30)

Details added (the first version was posted at 12:30)

Azerbaijan, Baku, Nov.2 / Trend, E.Ismayilov /

President of BP Azerbaijan has changed. Earlier Rashid Javanshir held this post, who took new post in the company's head office, a source in oil and gas market told Trend.

Rashid Javanshir is the first Azerbaijani national to lead BP Azerbaijan which covers the company's entire business in this country and Georgia, and export operations in Turkey.
He has 14 years of leadership experience in BP. His previous roles include: exploration director Amoco Caspian Sea, president of Amoco Inam Operating Company, president of three BP Amoco-operated PSAs - Shah Deniz, Inam and Araz- Alov -Sharg, BP Group strategy development manager, based in London, vice-president for BP's Southern North Sea business in Aberdeen, chief executive officer of the BTC Co. and vice-president of BP Azerbaijan for Onshore Operations.

Rashid holds a number of scientfic and educational degrees as Professor of Geophysics, Doctor of Geology and Mineralogy, PhD in Geophysics, and M.Sc. in Geophysics. He is a member of Azerbaijan's National Academy of Sciences. He also completed executive management programmes at Duke University, Rice University, and Harvard Business School.

Earlier addressing a meeting of the Cabinet of Ministers to discuss the results of the country's socio-economic development in nine months of 2012, and outline further priorities, President of Azerbaijan Ilham Aliyev said that serious mistakes of international consortium (Azerbaijan International Operating Company), operator of which is the company BP, led to a sharp decline in oil production on the Azeri and Chirag fields.

The contract on the Azeri-Chirag-Guneshli full field development was signed in 1994.

Participants of the project 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). Hess has sold its share to Indian ONGC, the transaction will be completed in the first quarter of 2013.