Azerbaijan, Baku / Trend corr V. Sharifov / Gobustan Operating Company (GOC) daily supplies 40,000 cu m of vacant gas produced in on-shore Southwest Gobustan field to the State Oil Company of Azerbaijan Republic (SOCAR), a source close to the project said on 25 August.
GOC sells gas to SOCAR at $1.33/1mln. BTU ($1.33/1mln BTU - nearly $47.4/1,000 cu m).
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.
The source noted that gas is produced in three wells drilled in the field in different time. Gas from additional two wells is likely to be produced this year.
SOCAR also purchases vacant gas from Anshad Petrol JV. In January to June 2007, both companies supplied 14.73mln cu m of vacant gas to SOCAR, what is by 0.29mln cu m more than in the same period of 2006. In June the companies sold 1.28mln cu m of gas.
JV began to sell gas in May, 2004 at the volume of 2 mln cu m.
Anshad Petrol produces gas in the contracted areas of Neftchala, Hilly, and Babazanan.
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.