SOCAR Public Relations and Events Department, Baku: `994 12 5210369, Azerbaijan`s Azer News Agency reported on Friday that the agreement had concluded a “geological exploration” of the Samsko-Kosbulak and Baiterek investment blocks in the Ustyurt region, as well as the Uzbek section of the Aral Sea, which would be carried out in stages. In accordance with an agreement initially signed in 2013, SOCAR Midstream Operations is declared a technical operator of all dedicated SCP facilities in Azerbaijan and Georgia, BP, SOCAR and SCP in a joint statement. SOCAR Turkey Communications, Istanbul: `90 212 305 0114, Driven by the extraordinary success of ACG`s development, the Azerbaijani government and the ACG partnership extended the ACG Treaty until the middle of the century by signing the revised and revised agreement on 14 September 2017. The new treaty was signed in Baku in the presence of President Ilham Aliyev. SOCAR and BP today signed a new Agreement on the Joint Distribution of Production (EPI) for the joint exploration and development of the D230 block in the northern Absheron basin in the Azerbaijani sector of the Caspian Sea. Psa was signed in London in the presence of British Prime Minister Theresa May and Azerbaijani President Ilham Aliyev, SOCAR President Rovnag Abdullayev and BP Chairman Bob Dudley. Following PSA`s ratification, the Azerbaijan International Operating Company (AIOC) was created to implement the agreement on behalf of foreign shareholders working in partnership with SOCAR and the Government of Azerbaijan. AIOC originally consisted of 11 major foreign oil companies (BP, Amoco, Unocal, LUKoil, Statoil, Exxon, TPAO, Pennzoil, McDermott; Ramco; Delta Nimir) from six countries: United Kingdom, United States, Russia, Norway, Turkey and Saudi Arabia. Depending on what is discovered, this will be used to decide on any trade agreement between the partners, a process that should be concluded within one year, the official said. BP, Socar, Uzbekneftegaz sign an Uzbekistan exploration agreement Talk about your two events, said Abdullayev: “We have a long tradition of fruitful collaboration with BP.

I believe that the synergies between modern upstream technology and the unique historical experience, which are embodied in both companies, create a solid foundation for our continued success. As today`s agreement is based on fair and fair conditions, it becomes an important milestone in the search for the greatest efficiency in the common development of Azerbaijan`s natural resources. SOCAR (the state oil company of the Republic of Azerbaijan) and AIOC (Azeri International Operating Company) today signed a Memorandum of Understanding for the future development of the Azeri-Chirag-Gunashli (ACG) field in the Azerbaijani sector of the Caspian Sea. The agreement will cover the development of this area until 2050 and will add a considerable potential for resource development in the middle of the century. Today, aCG produces about 620,000 barrels of oil equivalent. AIOC shareholders are BP, Chevron, INPEX, Statoil, ExxonMobil, TPAO, ITOCHU and ONGC Videsh. The agreement was signed today in Baku by SOCAR President Rovnag Abdullayev on behalf of the Republic of Azerbaijan and Gordon Birrell, BP Regional President for Azerbaijan, Georgia and Turkey, on behalf of the AIOC partnership. The LoI agrees with the key conditions for the future development of the CAG and allows the parties to conclude full negotiations and agreements in the coming months. Rovnag Abdullayev said: “We have been negotiating with ACG`s foreign partners for some time. We will conclude full-fledged agreements in the near future.

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