Foreign Companies Increase Vacant Gas Supply to SOCAR

Oil&Gas Materials 6 July 2007 20:06 (UTC +04:00)

Azerbaijan, Baku / corr Trend / Anshad Petrol Joint Stock Company (JSC) and Gobustan Operating Company sold 14.73mln cu.m. of vacant gas to the State Oil Company of Azerbaijan Republic (SOCAR), in January to June 2007, or 0.29mln cu.m more than the same period of 2006. According to SOCAR, companies sold 1.28mln cu.m. of gas in June 2007.

JSC began to sell gas in May 2004 at the volume of 2 mln cu.m. SOCAR purchases gas from Anshad Petrol and transfers it to Azerigaz Close Joint Stock Company, which, in turn, distributes the fuel via Aztransgaz within Azerigaz. GOC sells gas to SOCAR at $1.33/1mln. BTU ($1.33/1mln BTU - nearly $47.4/1,000 cu m).

Gobustan Operating Company (GOC) has developed Southwest Gobustan under the PSA agreed with SOCAR. The company began selling free gas in February 2006. In GOC 80% stock belongs to Commonwealth Gobustan Limited and 20% to SOCAR. In Commonwealth Gobustan Limited 37.17% belongs to Arawak Energy and 62.83% to China National Petroleum Company.

Anshad Petrol JV was created in 1993 by SOCAR and Atilla Dogan Petrol of Turkey on the basis of former OGEU Neftechalaneft. In 1994-1996 Anshad Petrol was operated by Atilla Dogan Petrol, but since 1997 this duty was undertaken by SOCAR. In 1995 Land and General Berhad joined the project through purchasing 17.15% of Atilla Dogan Petrol's stock.