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SOCAR Announces Tender For Azeri Light Consignment
The State Oil Company of the Azerbaijani Republic (SOCAR) has announced a tender for the seventh consignment in 2004 of Azeri Light oil from the Azeri-Chirag-Gunashli fields to be exported through the Baku-Supsa pipeline, a source in the company's marketing department told Interfax. The consignment will amount to 1 million barrels, to be shipped from the port of Supsa on November 21-22. Previous buyers were Italy's API Oil, Austrian OMV, Arcadia and Glencore.
This oil is produced as part of a contract for the development of the Azeri-Chirag-Gunashli (ACG) fields, Wehere SOCAR holds 10%. Profit oil is distributed among shareholders in proportion to their participation in the project.
Participants in ACG contract currently include British Petroleum - 34.1367%, US 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%.
Azerbaijan International Operating Company plans to produce 6.5 million tons of oil, the same as last year, and to ship from the port of Supsa in eight consignments of profit oil.
Source: Interfax Azerbaijan
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