AEC to sell over 10,000 barrels oil in 2005
Arawak Energy Corporation (AEC) sold 5,400 barrels produced from the onshore Southeastern Gobustan field in 3rd quarter of 2005, Trend reports referring to the press release spread by the AEC.
The field is developed by the Gobustan Operating Company under the contract signed with SOCAR. 80% of the share in the Gobustan Operating Company belongs to the Commonwealth Gobustan Limited, 20% - SOCAR, while 37.17% of share in the Commonwealth Gobustan Limited is pertaining Arawak Energy, 62.83% - China National Petroleum Company.
Arawak Energy supposes to sell 5,250 barrels through the northern route in the 4th quarter of 2005.