AIOC Awaits Go-Ahead on Caspian Oil Project

Wednesday, June 06, 2001
The BP-led Azerbaijan International Operating Company (AIOC) said on Wednesday it expected the Azeri government to give a green light in August for the next phase of its Caspian oil production project.

AIOC's president David Woodward told an oil and gas conference in the Azeri capital Baku the next phase aims to boost production to 350,000 barrels per day in 2005 from current levels of 100,000-130,000 bpd.

The project envisages bringing the Azeri field onstream in early 2005, adding to volumes from the Chirag field, which has been in production since 1997.

The cost of the expansion plans, called Phase One, is put at $3.3-3.4 billion, Woodward said. The next phase envisages the construction of a drilling platform for 48 wells, a gas compressing facility, an underwater pipeline from the Azeri field and modernization of an onshore oil terminal.

The new production levels would be reached just as a planned $2.8-2.9 billion pipeline from Baku across Georgia to Turkey's Mediterranean port of Ceyhan would be completed.

AIOC has already pumped more than 14 million tons of oil from Chirag since 1997, exporting oil through a pipeline to Supsa on Georgia's Black Sea coast.

The whole project is aimed at production at three offshore Caspian fields - Chirag, Azeri and deepwater of Guneshli.

AIOC, which unites BP; Unocal; Azeri state oil company SOCAR; Russia's LUKOIL; Statoil; Exxon Mobil; TPAO of Turkey; Devon Energy, Itochu; and Delta Hess, expects production from the offshore complex to reach 1.0-1.3 million bpd between 2008 and 2010.


People & Company News

MN100: Guido Perla & Associates, Inc.

The Company: With offices in the US, Brazil, Chile, China and Germany, GPA developed into an independent, full-service naval architecture and marine engineering

Grand Bahama Shipyard Expands Sales Team

Grand Bahama Shipyard Limited (GBSL) has added three regional sales directors to its Marketing and Sales Division, with posts in the Americas, Europe and Asia/Middle East.

MN100: Kohler Marine

The Company: Kohler Marine generators are produced in the United States and distributed globally. Kohler Marine sales as well as aftermarket sales and service activities are globally organized.

Offshore

Are We on the Crest of an Offshore Wind Wave?

This time last year, when we were preparing to host ABN AMRO’s inaugural international seminar on offshore wind the imminent Borssele offshore wind tender in the Netherlands was a hot topic.

Brazil May Open Petrobras Subsalt Area to Other Companies

Brazil may allow companies besides Petrobras to bid for the right to produce extra oil from areas it sold to the state-led oil company in 2010, the head of the

Vallianz Rejects Payment Request from Swiber Managers

Vallianz Holdings, which provides support vessels for the oil industry, said on Wednesday it had refused a request from the judicial managers of shareholder Swiber Holdings to pay around $63.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0874 sec (11 req/sec)