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Joint Ventures sell SOCAR over 14mln m3 of gas

Oil&Gas Materials 5 July 2006 17:53 (UTC +04:00)

In January to June 2006 The Anshad Petrol joint venture (JV) and Gobustan Operating Company sold a total of 14.4 million cubic meters of vacant gas to the State Oil Company of Azerbaijan (SOCAR), up 0.1mln m3 over year, SOCAR officials told Trend.

Anshad Petrol extracts gas from the wells on Neftchala, Khilly and Babazanan contract area. The JV started the export of vacant gas 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 per 1000 cu m) and transfers to

Azerigaz JSC, which, in its turn, distributes the fuel through Azrtrasngaz Production Association (PA), a part of Azerigaz.

Gobustan Operating Company (GOC) is developing Southwest Gobustan block under the PSA concluded with SOCAR. The company started free gas sale in February 2006. In GOC, 80% stock belong to Commonwealth Gobustan Limited, 20% to SOCAR.

Anshad Petrol JV was founded in 1993 between the SOCAR and the Turkish Atilla Dogan Petrol based on the former Neftechalaneft Oil and Gas Production Unit (OGPU). In 1994-1996 Atilla Dogan Petrol operated Anshad Petrol JV, but since 1997 the SOCAR has assumed this function. In 1995 the Malaysian Land and General Berhad became the project partner through purchasing 17.15%-stake from Atilla Dogan Petrol.

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