Azerbaijan probable to $3bn in profits from Azeri light export in 2006
In the first half of 2006 Azerbaijan has obtained 8.8 million barrels of profit oil under the development of the Azeri-Chirag-Gunashli fields, David Woodward, the President of BP Azerbaijan, stated to a news conference on 21 July.
According to Woodward, by the end of the year Azerbaijan will obtain $2.9bn from sale of profit oil and remittances by the partners in the Azerbaijan International Operating Company (AIOC).
This year Azerbaijan will produce he record volume of oil 30 million tons.
At present oil is transported via the Baku-Tbilisi-Ceyhan main export oil pipeline mainly to the European markets. However, following the rise in the volumes it can deliver crude via the Suez canal to the East Asian countries, Woodward stressed.