TODAY.AZ / Business

SOCAR calls sixth 2006 Azeri Light tender

01 May 2006 [09:14] - TODAY.AZ
The State Oil Company of the Azerbaijani Republic (SOCAR) announced a tender for the sixth consignment of Azeri Light crude oil produced at Azerbaijan's Azeri- Chirag-Gunashli (ACG) fields this year.

The consignment of 1 million barrels will be shipped from the port of Supsa on May 27-28, a source at SOCAR told Interfax.

Select Energy bought this year's first three consignments and Vitol bought the fourth and fifth.

Azeri Light was bought last year by Glencore, Arcadia, UniPetrol, Total, R-Trading, Select Energy, Tupras, and BP. Fourteen consignments were sold last year in total.

SOCAR has a 10% interest in the ACG project. Profitable oil is distributed among shareholders in proportion to their participation in the project.

Participants in the Azeri-Chirag-Gunashli contract currently include British Petroleum - 34.1367%, the U.S. companies Unocal -10.2814%, ExxonMobil - 8.0006%, Devon Energy - 5.6262%, and Amerada Hess -2.7%, Japan's INPEX Corp - 10% and ITOCHU Oil - 3.9205%, Norway's Statoil - 8.5633%, and Turkey's TPAO - 6.75%. rd

/TMCnet via Interfax News Agency and Thomson Dialog NewsEdge/

URL: http://www.today.az/news/business/25655.html

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