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Despite Aliyev's frustration oil production of British Petroleum decreased in Azerbaijan
17:41 14/05/2013 » ECONOMY
The British company `British Petroleum' didn't manage to raise the
level of oil production in the biggest oil field in the Caspian Sea in
Azerbaijan, even after the dissatisfaction expressed by the President
of the Republic last year. In the first quarter of 2013 only 8.06
million tons of oil is produced from the Azeri-Chirag-Guneshli. As the
BP representatives notice, it is 8.4 percent less than it was last
year, the article published by the "Caucasus Online" agency sBays.
The article says that the British Petroleum company does not comment
on this recession. The article also reminds that during the autumn of
last year, President of Azerbaijan Ilham Aliyev expressed his
dissatisfaction about the oil level of BP Company. He noted that the
sudden decline occurred precisely because of blunders that the BP
Company that leads the consortium of oil fields, made.
After that, the company's personnel was changed there. However,
BP-Azerbaijan's Vice President Kemp Copeland's withdrawal is not
connected with President's dissatisfaction.
Leadership of SOCAR, however, does not exclude that the presence of BP
in the consortium is possible in the near future.
However, as soon as the magazine `Forbes' published an article in
which notes of warning were present due to the collision of the
Azerbaijani government and the British company, the parties started to
pretend that everything goes smoothly.
Later, the BP-Azerbaijan Company gradually increased oil production in
Azeri-Chirag-Guneshli. The production rose to 45,000 barrels, or 6.8%
in a short time. According to the agreement, which was accepted by the
British company and the SOCAR, the BP promises not to reduce the oil
production. However, the statistics for the first quarter of the year
indicates that BP could not keep even this promise.
On May 2 BP CEO Mr. Dudley arrived in Baku and had a meeting with
Ilham Aliev. According to the spread information it was noted at the
meeting that the parties were satisfied with the cooperation. However,
it is assumed that at the meeting, the details of which had not been
made public, the reduction of oil production in the
Azeri-Chirag-Guneshli have been discussed.
Supposedly, it was said that reduction is expected this year, the article says.
The publication states that according to BP the reason of oil
production reduction is in the fact that it needs additional
investments, as well as a decrease of oil fields.
Since 2011 oil production in Azerbaijan reduced. So, if in 2010 the
country produced 50.8 million tons of oil, in 2011 the oil production
decreased by 10.8% to 45.4 million tons. In 2012, oil production
declined by 5.3% to 43 million tons. During the first month of 2013
the oil production in Azerbaijan decreased by 2.6% and by 4.4% during
3 month.
Source: Panorama.am
From: Emil Lazarian | Ararat NewsPress
17:41 14/05/2013 » ECONOMY
The British company `British Petroleum' didn't manage to raise the
level of oil production in the biggest oil field in the Caspian Sea in
Azerbaijan, even after the dissatisfaction expressed by the President
of the Republic last year. In the first quarter of 2013 only 8.06
million tons of oil is produced from the Azeri-Chirag-Guneshli. As the
BP representatives notice, it is 8.4 percent less than it was last
year, the article published by the "Caucasus Online" agency sBays.
The article says that the British Petroleum company does not comment
on this recession. The article also reminds that during the autumn of
last year, President of Azerbaijan Ilham Aliyev expressed his
dissatisfaction about the oil level of BP Company. He noted that the
sudden decline occurred precisely because of blunders that the BP
Company that leads the consortium of oil fields, made.
After that, the company's personnel was changed there. However,
BP-Azerbaijan's Vice President Kemp Copeland's withdrawal is not
connected with President's dissatisfaction.
Leadership of SOCAR, however, does not exclude that the presence of BP
in the consortium is possible in the near future.
However, as soon as the magazine `Forbes' published an article in
which notes of warning were present due to the collision of the
Azerbaijani government and the British company, the parties started to
pretend that everything goes smoothly.
Later, the BP-Azerbaijan Company gradually increased oil production in
Azeri-Chirag-Guneshli. The production rose to 45,000 barrels, or 6.8%
in a short time. According to the agreement, which was accepted by the
British company and the SOCAR, the BP promises not to reduce the oil
production. However, the statistics for the first quarter of the year
indicates that BP could not keep even this promise.
On May 2 BP CEO Mr. Dudley arrived in Baku and had a meeting with
Ilham Aliev. According to the spread information it was noted at the
meeting that the parties were satisfied with the cooperation. However,
it is assumed that at the meeting, the details of which had not been
made public, the reduction of oil production in the
Azeri-Chirag-Guneshli have been discussed.
Supposedly, it was said that reduction is expected this year, the article says.
The publication states that according to BP the reason of oil
production reduction is in the fact that it needs additional
investments, as well as a decrease of oil fields.
Since 2011 oil production in Azerbaijan reduced. So, if in 2010 the
country produced 50.8 million tons of oil, in 2011 the oil production
decreased by 10.8% to 45.4 million tons. In 2012, oil production
declined by 5.3% to 43 million tons. During the first month of 2013
the oil production in Azerbaijan decreased by 2.6% and by 4.4% during
3 month.
Source: Panorama.am
From: Emil Lazarian | Ararat NewsPress