TODAY.AZ / Business

AIOC's gas output more than doubles

06 April 2006 [11:29] - TODAY.AZ
The Azerbaijan International Operating Company (AIOC) produced 678.1 million cubic meters of gas from Azerbaijan's major Azeri-Chirag-Gunashli offshore fields in January-March 2006, or 2.6 times over the same period of last year.

Moreover, the output exceeded the projection by 9.6%, or 59.4mln cu m. 191.5m cu. m. was extracted in January, 233.7m in February and the remaining 252.9m cu. m. in March, BP Azerbaijan told AssA-Irada.

AIOC extracted 1.888 billion cubic meters of gas from the Azeri fields last year. All of the gas extracted from the block is delivered to Azerbaijan.

The company was established in 1994 by a consortium consisting of foreign companies and the State Oil Company (SOCAR) to jointly develop the ACG fields.

The ACG shareholders are: BP (operator – 34.1%), SOCAR (10%), Unocal (10.3%), INPEX (10%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.8%), Devon (5.6%), ITOCHU (3.9%), and Amerada Hess (2.7%).



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