SOCAR increased in January-February purchasing of free gas by 0,6%
The Anshad Petrol joint venture (JV) and the В"Gobustan Operating CompanyВ" sold in January February 2006 totally 6,5 million cubic meters of free gas to the State Oil Company of Azerbaijan (SOCAR), which is for 0,6 million cubic meters more of the 2005 same period, SOCAR told Trend. According to SOCAR, in February the companies have sold 3,1 million cubic meters of gas.
Anshad Petrol extracts gas from the Neftchala, Hilly and Babazan contract area wells. JV started the free gas first sales in April 2004 in the volume of 2 million cubic meters. SOCAR buys gas from Anshad Petrol at the price of 65,000 AZM (about $13/1000 cubic meters) and transfers to Azerigaz JSC, which, in its turn, distributes the fuel through Azrtrasngaz Producing Unit (PU), part of Azerigaz.
At the first stage of deliveries from four wells GOC will supply up to 200,000 cubic meters of gas. After launching the fifth well the volume of the gas to be sold will grow 350,000 cubic meters. The gas price will make $1.29/1 million BTU ($1.29/1 million BTU some $46/1000 cubic meters).
Gobustan Operating Company (GOC) is engaged in developing of the South-West Gobustan by PSA, concluded with SOCAR. The company commenced sales of free gas in February 2006. 80% share in GOC belong to Commonwealth Gobustan Limited, 20% are fixed for SOCAR. In Commonwealth Gobustan Limited 37,17% are owned by Arawak Energy, and 62,83% - by the group of companies China National Petroleum Company.
Anshad Petrol JV was founded in 1993 between SOCAR and the Turkish Atilla Dogan Petrol based on the former Neftechalaneft Oil and Gas Producing Unit (OGPU). In 1994-1996 Atilla Dogan Petrol operated Anshad Petrol JV, but since 1997, SOCAR assumed this function. In 1995 the Malaysian Land and General Berhad became the project partner, having bought 17,15% from the Atilla Dogan Petrol share.