1 Mar 2010 17:22

Azneft ups oil extraction 1% in Jan

BAKU. March 1 (Interfax) - Azneft, the production arm of the State Oil Company of the Azerbaijani Republic (SOCAR), extracted 624,600 tonnes of oil in January, an 0.8% year-on-year increase, a SOCAR source told Interfax.

SOCAR received 157,700 tonnes of oil as part of its involvement in land and sea oil and gas deposits in January.

"From its stakes in operations companies working on-shore deposits, SOCAR received 25,900 tonnes, from its stake in the Azeri-Chirag-Gunashli deposits 115,900 tonnes, from its stake in the Shah Deniz project 15,900 tonnes of condensate," the source said.

The company also received 14,800 tonnes of oil to sell on the domestic market from joint ventures and operating companies developing onshore fields in January.

SOCAR shipped 564,600 tonnes of oil for refining in January.

Six operating companies and two joint ventures are engaged in producing oil and gas at onshore fields in Azerbaijan: Salyan Oil Ltd (SOL, developing the Kyursengi and Garabagly fields), Karasu Operating Company (KOC - Kyalameddin and Mishovdag), Gobustan Operating Company (Southwest Gobustan), Binagadi Oil (Binagadi), AzShengli (Pirsagat) and Shirvanoil (Northern Gyurovdag, Central Gyurovdag and Southern Gyurovdag). The joint ventures are the Azeri-Malaysian-Turkish joint venture ANSHAD Petrol (Neftchala) and Azeri-German AzGerneft (Ramany).

The Azeri-Chirag-Gunashli project participants are project operator BP (34.1367% interest), Chevron (10.2814%), ExxonMobil (8.0006%), Devon Energy (5.6262%), Amerada Hess (2.7213%), State Oil Company of the Azerbaijani Republic (SOCAR) (10%), Inpex Corp. (10%), ITOCHU Oil (3.9205%), Statoil (8.5633%) and TPAO (6.75%).

The contract to develop the Shah Deniz field was signed on June 4, 1996. The project participants are BP (operator - 25.5%), Statoil (25.5%), State Oil Company of Azerbaijan (SOCAR) (10%), Lukoil (10%), NICO (10%), TotalFinaElf (10%), and TPAO (9%).