Volume of associated gas supplied to SOCAR consortium increased by 22%

Baku. 20 November. REPORT.AZ/ In the first three quarters of 2017, ACG delivered an average of about 8.6 million cubic metres per day of ACG associated gas to SOCAR, primarily at the Sangachal Terminal but also to SOCAR’s Oil Rocks facility. The remainder of the associated gas produced was re-injected for reservoir pressure maintenance.

Report informs referring to "BP-Azerbaijan”, a total of 2.4 billion cubic metres of gas delivered to SOCAR. The volume of associated gas delivered to SOCAR during 9 months of this year was 21.8% more than the same period last year.

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

On 14 September 2017 the Azerbaijan Government and SOCAR, together with the international co-venturers signed the amended and restated ACG PSA. The contract was ratified by the Parliament (Milli Majlis) of the Republic of Azerbaijan on 31 October.

ACG participating interests are: Participants in the project are the companies BP (30,37%- operator), SOCAR(25%), Chevron (9,57%), Inpex (9,31%), Statoil (7,27%), ExxonMobil (6,79%), TPAO (5,73%), Itochu (3,65%), ONGC Videsh Ltd. (2.31%).