Last year AIOC increased volume of associated gas to SOCAR

Baku. 16 February. REPORT.AZ/ Azerbaijan International Operating Company (AIOC) has delivered daily 7.9 million cubic meters of associated gas from Azeri-Chirag-Gunashli (ACG) fields block, located in the national sector of the Caspian Sea, to the State Oil Company of Azerbaijan Republic (SOCAR), mainly using facility in Sangachal Terminal and "Oil Rocks".

Report informs referring to the BP-Azerbaijan, SOCAR received 2.9 billion cubic meters of associated gas during the reporting period. 

The volume of associated gas delivered last year to SOCAR is 5.5% more than in 2016.

It was noted that the remainder of the associated gas produced was re-injected for reservoir pressure maintenance.

Notably, the Production Sharing Agreement (PSA) was signed on September 20, 1994, in Baku. Azerbaijan International Operating Company (AIOC) was established in February, 1995.

Amended and restated agreement was signed on September 14, 2017, on joint development of the ACG block and production sharing. The agreement was ratified by Azerbaijani Parliament on October 31, 2017.

The participants of the project are: BP (30,37%- operator), AzACG SOCAR (25%), Chevron (9,57%), Inpex (9,31%), Statoil (7,27%), ExxonMobil (6,79%), TP (5,73%), Itochu (3,65%), ONGC Videsh Ltd. (2.31%).