BP's Azeri construction ops close to completion
BP Azerbaijan is about to complete a number of construction
projects in the country, the company's vice-president Bruce
Luberski said.
He said work at both the oilfields and the extension of the Sangachal terminal has drawn to a close. The company has started to transfer the equipment delivered to Azerbaijan for the operations, under a relevant agreement signed by the sides. According to the deal, the equipment is being handed over to the State Oil Fund. Its unnecessary portion is being sold and the proceeds transferred to the organization's account, the oil executive said.
Luberski went on to say that BP Azerbaijan has invested about $10 billion in the development of the major Azeri-Chirag-Gunashli field it operates in the Caspian Sea. $6.580bn has been spent so far to tap the Azeri field, while $3.030bn - on Deepwater Gunashli.
He added that construction work on Deepwater Gunashli is to be completed in mid-2008.
BP is the top foreign investor in Azerbaijan's oil and gas sector. Along with the ACG and Shahdaniz projects, the company is one of the main shareholders in the BTC oil and South Caucasus gas pipelines.
He said work at both the oilfields and the extension of the Sangachal terminal has drawn to a close. The company has started to transfer the equipment delivered to Azerbaijan for the operations, under a relevant agreement signed by the sides. According to the deal, the equipment is being handed over to the State Oil Fund. Its unnecessary portion is being sold and the proceeds transferred to the organization's account, the oil executive said.
Luberski went on to say that BP Azerbaijan has invested about $10 billion in the development of the major Azeri-Chirag-Gunashli field it operates in the Caspian Sea. $6.580bn has been spent so far to tap the Azeri field, while $3.030bn - on Deepwater Gunashli.
He added that construction work on Deepwater Gunashli is to be completed in mid-2008.
BP is the top foreign investor in Azerbaijan's oil and gas sector. Along with the ACG and Shahdaniz projects, the company is one of the main shareholders in the BTC oil and South Caucasus gas pipelines.
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