The new agreement on development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields until 2050 envisages the use of the project’s spare infrastructure capacities for the needs of other projects, a source in Azerbaijan’s state oil company SOCAR told Trend.
The new agreement sets forth conditions and procedures for using the ACG’s spare infrastructure capacities, according to the source.
“For example, if in the future, there is need to lay a pipeline to the Sangachal terminal onshore within the implementation of one of the projects, it will be possible to use the available capacities, both pipeline and terminal ones,” the source said.
The source noted that in general, SOCAR will be making decisions regarding the capacities.
“If the use of infrastructure capacities within other projects directly affects material interests of the ACG, their operators will pay compensation,” the source said. “These payments are related to commercial interests, and not to operating costs. The operators will pay the operating costs themselves as well.”
The signing ceremony of a new contract on development of ACG block of oil and gas fields was held in Baku Sept. 14.
Following the ratification of the contract, the new ACG participating interests will be as follows: BP – 30.37 percent; AzACG (SOCAR) – 25.00 percent; Chevron – 9.57 percent; INPEX – 9.31 percent; Statoil – 7.27 percent; ExxonMobil – 6.79 percent; TP – 5.73 percent; ITOCHU – 3.65 percent; and ONGC Videsh Limited (OVL) – 2.31 percent.
© Content from this site must be hyperlinked when used
