Baku / 19.04.19 / Turan: The consortium of oil companies comprising SOCAR, BP, Chevron, INPEX, Equinor, ExxonMobil, TPAO, ITOCHU and ONGC Videsh, signed a project to develop the deepwater part of the Central Eastern Azeri field today.
According to BP - operator of the project Azeri-Chirag-Guneshli, the cost of the new project will be $ 6 billion. Within its framework, a new offshore platform with equipment with a processing capacity of up to 100,000 barrels of oil per day will be built.
As expected, the first oil production in this project will begin in 2023. Total production is expected to 300 million barrels.
Construction work will begin this year and continue until mid-2022, according to a BP report.
Recall that the agreement to continue the development of the Azeri-Chirag-Guneshli field was signed in 1994, and on September 14, 2017, an agreement was signed to extend the development of the ACG until 2050. -02D-
Energy
-
From January to May 2024, Azerbaijan imported 616.2 thousand tons of oil Russia, a third more compared to last year, Interfax reports. In monetary terms, the cost of imported Russian oil has also risen by almost a third — to $339 million. In total, Azerbaijan purchased 742.3 thousand tons of black gold in the first five months of this year (+18% compared to January-May 2023) for $416 million. Thus, Russia's share in Azerbaijani crude oil imports amounted to 83%.
-
1.11 billion barrels of oil were produced from the “Central Azeri” platform, commissioned in February 2005, as part of the full-scale development of the Azeri-Chirag-Guneshli (ACG) field, by July 1, 2024, the State Oil Company of Azerbaijan (SOCAR), which has a 25 percent share in the ACG project.
-
Yesterday, Azerbaijani Economy Minister Mikail Jabbarov held a meeting with Ahmed Moalim Figi, Somali Minister of Foreign Affairs and International Cooperation. They discussed issues related to bilateral economic relations between the countries and potential partnership opportunities in the energy sector. The parties stressed the expediency of establishing mutually beneficial economic ties between the two countries, expanding the contractual and legal framework in order to support the development of relations, as well as exchange of experience in areas of mutual interest.
-
Azerbaijani gas supplies to Serbia may be increased in the foreseeable future, the parties are currently discussing this issue, the Minister of Labor and Social Protection of the Population of Azerbaijan Sahil Babayev told journalists.
Leave a review