Anshad Petrol sells over 20 million cu m of vacant gas to SOCAR

Oil&Gas Materials 3 November 2005 13:28 (UTC +04:00)

The Anshad Petrol Joint Venture (JV) sold 19.5 million cu m of vacant gas in January to October 2005 to the State Oil Company of Azerbaijan (SOCAR), which is for 9 million cu m more of ten months of 2004, SOCAR told Trend.

Anshad Petrol extracts gas on the wells from the contract area "Neftechala", "Hilli" and "Babzanan". JV commenced its first sales of gas in April 2004 in the volume of 2 million cu m.

According to the SOCAR data, Anshad Petrol sold 1.8 million cu m gas in October, which is for 0.5 million cu m less of the marketed gas in September. SOCAR buys gas from Anshad Petrol at the price of 65,000 AZM (some $13 per 1000 cu m) and sells to Azerigaz JSC, which in its turn distributes the fuel through the PU Aztransgaz, part of Azerigaz.

Anshad Petrol JV was set up in 1993 between SOCAR and the Turkish Atilla Dogan Petrol based on the former Oil and Gas Producing Unit (OGPU) “Neftechalaneft”. In 1994-1996, Atilla Dogan Petrol was an operator of Anshad Petrol JV, but since 1997 SOCAR overtook the function. In 1995 the Malaysian Land and General Berhad company became the project’s participant, having bought 17.15% from Atilla Dogan Petrol’s share.