Exploration & Production

SOCAR to sign gas agreement with BP in 2012

The State Oil Company of the Azerbaijani Republic (SOCAR) has said a new production sharing contract will be signed with BP and other companies exploring the Azeri-Chirag-Guneshli (ACG) fields before the end of this year.
By Staff reporter 11 April 2012 0 9024

The State Oil Company of the Azerbaijani Republic (SOCAR) has said a new production sharing contract will be signed with BP and other companies exploring the Azeri-Chirag-Guneshli (ACG) fields before the end of this year.

"It will be our second contract on ACG and it will touch on deep gas reservoirs," Rovnag Abdullayev, SOCAR’s president, told journalists on Tuesday.

BP, Chevron, Inpex, Statoil, ExxonMobil, Turkish Petroleum Corp., Itochu and Hess have been partners in production at ACG since 1994.

Abdullayev said that "members of the agreement will be the same companies...