Baku, Azerbaijan, May 17
By Maksim Tsurkov - Trend:
In the first quarter of 2018, BP delivered 525 million cubic meters of associated gas to Azerbaijan’s state oil company SOCAR versus 1.1 billion cubic meters in the same period of 2017, the BP report on its activity in Azerbaijan for the 1Q18 said.
SOCAR gets the associated gas for free within the ACG block’s development.
The average daily volume of the associated gas transferred to SOCAR amounted to 5.8 million cubic meters, according to the report.
The remainder of the associated gas produced was re-injected for reservoir pressure maintenance, BP said.
BP is the operator of the Azeri-Chirag-Guneshli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea.
A contract for development of ACG block of oil and gas fields was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in Baku Sept. 14, 2017.
The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.
--
Follow the author on Twitter: @MTsurkovTrend