Baku, Azerbaijan, Nov.29
By Leman Zeynalova – Trend:
Japan’s INPEX Corporation is looking for more business opportunities in Azerbaijan, the company’s Vice-President Akihiko Kurashina told Trend.
“We are a guest company. We are a part of the Azeri-Chirag-Gunashli (ACG) project. This project is one of the biggest oil assets of INPEX portfolio. We came to Azerbaijan in the beginning of the century and since then we have been working very closely with Azerbaijan’s SOCAR, as well as BP and other international companies,” he said.
Kurashina pointed out that INPEX Corporation, which is Japan's largest oil and gas exploration and production company, is very closely working with SOCAR.
“We have been inviting young people from SOCAR to Japan since 2016. Now our relationship becomes closer and closer and we are looking for more opportunities to come,” he added.
Further, speaking about the measures taken by INPEX to reduce the environmental impact of its operations, Kurashina noted that in Azerbaijan, the company follows the guidelines set by BP.
“But in the other countries, we respect the local regulations. INPEX, as an international company, has its own set of measures as well. All our projects are implemented in accordance with these requirements,” he said.
INPEX currently has a 9.31 percent participating interest (through INPEX Southwest Caspian Sea, Ltd.) in the Azeri-Chirag-Gunashli Oil Fields in Azerbaijan. Moreover, the company has 2.5 percent share in Baku-Tbilisi-Ceyhan oil pipeline.
A contract for development of ACG block was signed in 1994. A ceremony to sign a new contract on development of the ACG block until 2050 was held in Baku Sept. 14, 2017.
ACG participating interests are: BP (30.37 percent), SOCAR (25.0 per cent), Chevron (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), ONGC Videsh Limited (OVL) (2.31 percent).
Total length of BТC is 1,768 kilometers, including a 443-kilometer section running through Azerbaijan, a 249-kilometer section in Georgia and a 1,076-kilometer section in Turkey. Construction of the pipeline started in April 2003. It was filled with oil May 18, 2005.
The BTC Co., which was established August 1, 2002 for implementation of the BTC pipeline project, has the following shareholders: BP (30.1 percent); AzBTC (25 percent); Chevron (8.9 percent); Statoil (8.71 percent); TPAO (6.53 percent); Eni (5 percent); Total (5 percent), ITOCHU (3.4 percent); INPEX (2.5 percent), ExxonMobil (2.5 percent) and ONGC (BTC) Limited (2.36 percent).
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