AIOC delivered 2,75 bln cum associated gas to SOCAR last year

AIOC delivered 2,75 bln cum associated gas to SOCAR last year An average of 7.5 million cubic metres of associated gas delivered
Energy
February 21, 2017 17:07
AIOC delivered 2,75 bln cum associated gas to SOCAR last year

Baku. 21 February. REPORT.AZ/ In 2016 Azerbaijan International Operating Company (AIOC) from Azeri-Chirag-Guneshli" (ACG) in national sector of the Caspian Sea delivered an average of 7.5 million cubic metres (cum) of associated gas to SOCAR (2.75 billion cubic metres in total), primarily at the Sangachal Terminal but also to SOCAR’s Oil Rocks facility.

Report informs, operator of the block, "BP-Azerbaijan" said. 

The volume of associated gas delivered to SOCAR during the reporting period decreased by 14% compared with 2015.

The remainder of the associated gas produced was re-injected for reservoir pressure maintenance.

Notably, the Production Sharing Agreement (PSA) signed on September 20, 1994 in Baku by the Government of Azerbaijan and a consortium of 11 foreign oil companies. In February 1995, Azerbaijan International Operating Company (AIOC) was established. AIOC controls field block on behalf of BP.

Participants in the project are the companies BP (35,8% - operator), SOCAR (11,6%), Chevron (11,3%), Inpex (11%), Statoil (8,6%), ExxonMobil (8%), TPAO (6,8%), Itochu (4,3%), ONGC Videsh Ltd. (2.7%).