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Agreement on ACG future exploitation to be signed with existing partners

05 October 2015 14:10 (UTC +04:00)

Baku. Agshin Rafigoglu - APA-Economics. Representatives of partners on Azer-Chirag-Guneshli exploitation – BP, Statoil, Exxon Mobil, Shevron, Itochu, INPEX, TPAO, ONCL Videsh companies have today met with the SOCAR and SOFAZ management.

SOCAR told APA-Economics that the meeting attendees exchanged their opinions on possible development of the “Contract of the Century” signed in 1994 with the initiative of Heydar Aliyev.

The representatives of BP and partner companies appreciated condition created for promotion and protection of foreign investments in Azerbaijan and noted that existing business environment plays an important role in the development of energy projects. The representatives underlined SOCAR’s long-term cooperation experience and reliable partnership.

The BP and partners and SOCAR held technical discussions on future development of ACG at the meeting. It was noted at the meeting that Azeri, Chirag and deepwater Guneshli still have great potential.

SOCAR stated that the agreement on ACG future exploitation will be signed with existing partners. BP and partners welcomed this intention.

The parties came to agreement to coordinate the steps to be taken in the future.