Contractors for bp Projects in Azerbaijan Increased the Volume of Completed Orders by 10% in the First Half of the Year
Contracting companies for bp projects in Azerbaijan in the first half of 2023 completed orders worth $718.5 million, which is 10% higher than in January-June 2022, the bp-Azerbaijan press service told Interfax-Azerbaijan.
“Out of the indicated amount, 14 joint ventures completed orders for $356 million, $22.3 million – 18 state-owned enterprises, $167.8 million – 195 small and medium-sized enterprises, $172.4 million – 91 foreign companies working on bp projects in Azerbaijan,” – said the press service of the company.
The total investments of bp-Azerbaijan, including funds invested jointly with project partners and separately, in the implementation of social projects in January-June 2023 amounted to $1.3 million.
The contract for the development of the Azeri, Chirag and deepwater Gunashli fields was signed in 1994. Oil production at the block began in November 1997.
This agreement expires in 2024. However, on September 14, 2017, a new contract for the development of the ACG block, calculated until 2050, was signed in Baku.
Under the new contract, the share of bp (project operator) is 30.37%, the State Oil Company of Azerbaijan – 25%, Hungarian MOL – 9.57%, American ExxonMobil – 6.79%, Indian ONGC – 2.31%, Japanese Inpex Corp. and Itochu Oil – 9.31% and 3.65%, respectively, Norwegian Equinor – 7.27%, Turkish TPAO – 5.73%.
The contract for the development of the Shah Deniz field was signed in Baku on June 4, 1996 and ratified by the Milli Majlis on October 17 of the same year. The equity participation of the parties in the contract is currently as follows: bp (operator – 29.99%), LUKOIL (19.99%), TPAO (19%), NICO (10%) and Cenub Qaz Dehlizi CJSC (21 .02%)
The participants of the Baku-Tbilisi-Ceyhan oil pipeline project are: bp (30.1%); SOCAR (25%); MOL (8.9%); Equinor (8.71%); TPAO (6.53%); ENI (5%); ExxonMobil (2.5%), Itochu (3.4%); INPEX (2.5%), TotalEnergies (5%) and ONGC (2.36%).
