Details added (first version posted at 12:10)
Baku, Azerbaijan, June 2
By Maksim Tsurkov – Trend:
Over the past 12 years, BP gave more than 30 billion cubic meters of associated gas to Azerbaijan from the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea, said Bakhtiyar Aslanbayli, communications, external affairs, strategy & region vice president at BP Azerbaijan, on June 2.
He was addressing the 24th International Caspian Oil & Gas Exhibition and Conference 2017 in Baku.
Aslanbayli said BP and partners overall invested about $66 billion in oil and gas projects in Azerbaijan.
“Since late 1997 to date, more than three billion barrels of oil were produced from ACG,” he said.
Aslanbayli noted that more than 80 billion cubic meters of gas have been exported from the Shah Deniz field to the regional markets since the end of 2006.
He further said that BP and partners signed contracts worth about $1.06 billion with 167 Azerbaijani companies in 2016.
“Last year, the company's costs for joint operations and projects in Azerbaijan were around $2.06 billion,” Aslanbayli noted, adding the costs related to local suppliers amounted to $900 million.
A contract for developing the ACG field was signed in 1994. The proven oil reserve of the block nears 1 billion tons.
The shareholders of the project are BP (operator, 35.78 percent), Chevron (11.27 percent), Inpex (10.96 percent), AzACG (11.65 percent), Statoil (8.55 percent), Exxon (8 percent), TPAO (6.75 percent), Itocu (4.3 percent) and ONGC (2.72 percent).