Talks on the program of future development of “Azeri-Chirag-Guneshli” (ACG) block of fields, located in the Azerbaijani sector of the Caspian Sea launched. Report informs, President of the State Oil Company of Azerbaijan Republic (SOCAR), Rovnag Abdullayev told the reporters.
Mr.Abdullayev said, at present experts are working in this issue, and after the completion, the deal will be signed: “ACG operator up to 2024 is the company BP. Most likely, BP also in future will remain the operator of the block of fields”.
Agreement on Joint Development and Production Sharing from the “Azeri”, “Chirag”, “Deepwater Gunashli” was signed on September 20, 1994 in Baku. The term of the contract is 30 years. Participants in the project are the companies BP (35%, 8% as an 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%).