BP: Azerbaijan so far received 30 bcm of associated gas from ACG block
Baku, Azerbaijan, Sept. 14
By Maksim Tsurkov – Trend:
Azerbaijan has so far received 30 billion cubic meters of associated gas, free of charge, from the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Caspian Sea, BP CEO Robert Warren Dudley said.
He made the remarks in Baku Sept. 14 at a ceremony to sign a new ACG contract in Baku Sept. 14.
He expressed gratitude to President of Azerbaijan Ilham Aliyev and his government for outstanding achievements.
All these achievements became possible only thanks to the far-sighted policy of Azerbaijan’s national leader Heydar Aliyev, Dudley said.
The agreement signed in 1994 and deservedly called "the Contract of the Century" is the result of this foresight, he noted, adding that 11 companies from six different countries together with SOCAR opened a new page in Azerbaijan’s energy sphere.
He said that brilliant success was achieved in the development of Azerbaijan’s offshore oil reserves and their transportation to global markets.
About $33 billion have been so far invested in the ACG project and 3.2 billion barrels of oil have been produced, he noted.
Dudley added that the signing of the new contract is a new stage in the history of ACG and gives an opportunity to open a new page in cooperation among partner companies.
Over the next 32 years of joint work and new investments worth over $40 billion, the BP will continue ensuring the long-term vision of oil and gas production in Azerbaijan, Dudley said.
This, in turn, strengthens the role of the region, which has profitable supply routes through Turkey and Georgia, and completely transforms the region into an international energy center, he added.
Dudley noted that the BP will continue its 25-year experience of work in Azerbaijan by using the company’s leading technological capabilities, specific knowledge and experience in working at a number of major deposits around the world.
The BP will continue developing world-class infrastructure in the Caspian Sea, as well as business and social spheres by expanding the company’s commitments to Azerbaijan, Dudley said.