Baku
Bakı booked.net
+30°C
FreeCurrencyRates.com

BP acquires 61% stake in PSA contract on development of Azerbaijani field

  12

Baku, Azerbaijan, Sept. 14

By Ilkin Shafiyev - Trend:

The BP company has acquired a 61 percent participating stake in the production sharing agreement (PSA) on the Gobustan onshore field in Azerbaijan, the BP-Azerbaijan company said in a statement Sept. 14.

The participating stake has been acquired from the Commonwealth Gobustan Limited company, which is a subsidiary of the British Arawak Energy company and is a member of the Vitol Group company, the message says.

As a part of the transaction approved by SOCAR, the BP company, as an operator, will drill one exploration well to assess the potential of the field. The exploration well is expected to be drilled in the second half of 2019.

---

Follow the author on Twitter: @IlkinShafiyev

Follow Trend on Telegram. Only most interesting and important news

Xəbər Lenti

| Azerbaijani army starts competition for title of best tank company (PHOTO/VIDEO)

| Foreign currencies continue to strengthen against Uzbek soum

| Agenda of 9th Russia-Azerbaijan interregional forum disclosed

| Azerbaijan to showcase Tufan armored fighting vehicle at ADEX

| Azerbaijan's 2019 state budget drafted taking into account global financial trends (PHOTO)

| Azerbaijani, Mongolian presidents meet (PHOTO)

| UNEC values

| Azerbaijan eyes to carry out some mortgage lending operations online

| Biggest int'l defense exhibition of region "ADEX-2018" starts in Baku tomorrow

| Powers of banks’ supervisory boards may be expanded in Azerbaijan

| Azerbaijan prepares strategy to develop agriculture - minister

| Azerbaijan expands sale of arms to Africa, Middle East

| President Erdogan confirms opening date of Istanbul's third airport

| Mongolian president arrives in Azerbaijan

| Iran, Oman to drive growth for oil storage industry in Middle East to 2022

| Azerbaijan to create about 10 “Friend of SMEs” centers

| Total trading volume on the Kazakhstan Stock Exchange down

| Brent price hits November 2014 height

| Azerbaijani MP: Ilham Aliyev gave Armenia chance to draw conclusions, take right path

| E-commerce is important component of Azerbaijan’s economic diversification, says EU

| Uzbek restaurant to open in Budapest and Hungarian one - in Tashkent

| German business morale falls less than expected in September

| Azerbaijan’s draft state budget for 2019 sent to gov’t

| Deputy PM reveals main goal of agrarian policy in Azerbaijan

| Major traders are talking about $100 oil again

| Prices for precious metals fall in Azerbaijan

| Date of Azerbaijani, Armenian FMs’ meeting revealed

| Uzbekistan to showcase food products in India

| GM Uzbekistan halves delivery time of Cobalt, Malibu cars

| Exclusion of Uzbek cotton from US "black list" opens new opportunities

| Unipec: World oil demand, refining growth to peak in 2035

| Azerbaijan reacts to statement of CSTO secretary general on Karabakh conflict

| Female terrorist from France detained in Turkey

| Yashar Bashirov: Karate one of 20 kinds of sports at Olympics thanks to Azerbaijani president’s support (INTERVIEW)

| Azerbaijani currency rates for Sept. 24

| Saudi Aramco Trading aims for 50 percent rise in oil trade volume in 2020

| Singapore medical company to open own pharma production in Uzbekistan

| Tetra Pak expands its presence in Turkmen market

| Azerbaijani oil prices for Sept. 17-21

| Ministry talks linking energy systems of Azerbaijan, Iran, Georgia (Exclusive)