Baku, Azerbaijan, June 4
By Emil Ismayilov - Trend:
The contract on the development of gas in deep bedding in the block of offshore "Azeri-Chirag-Guneshli" oil and gas fields are not considered separately from the existing contract for the production of oil and associated gas, SOCAR senior official said.
At present, a long-term program on the development of fields, assuming maximum production reserves from this block is being prepared by the partners in the development of the ACG and its operator - BP.
The program applies to both oil and gas production at ACG. The options for the construction of new platforms or creation of subsea production systems may be considered to this end. The application of the new concept does not exclude changes in the contract completion date for this block of fields, the SOCAR representative said.
The contract on the Azeri-Chirag-Guneshli offshore field development project was signed in 1994. The agreement is valid for 30 years. The proven oil reserves of the field are estimated at about one billion tonnes.
Shares in the contract for development of the Azeri-Chirag-Guneshli block of fields is distributed as follows: BP (operator in Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.
Edited by CN