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BP's associated gas transfer to SOCAR down

Oil&Gas Materials 1 August 2018 21:15 (UTC +04:00)

Baku, Azerbaijan, Aug. 1

By Ilkin Shafiyev - Trend:

BP, which operates the development of the Azeri-Chirag-Gunashli (ACG) block of fields in the Azerbaijani sector of the Caspian sea, transferred 1.1 billion cubic meters of associated gas to the Azerbaijani state company SOCAR in 1H2018, against 1.8 billion cubic meters a year earlier, BP said Aug. 1 in a report on the activity in Azerbaijan in the first half of the year.

The associated gas obtained in the development of the ACG block of fields is transferred to SOCAR free of charge.

In the first half of the year, ACG delivered about 6 million cubic meters per day of the associated gas to SOCAR, the report says.

A contract for the development of the ACG block was signed in 1994. On September 14, 2017, a new agreement on the development of the ACG block until 2050 was signed in Baku.

The share participation in the project is as follows: BP (operator) – 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.

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