logo
Plus   Neg
Share
Email

BP, Partners Sanction $6 Bln Azeri Central East Development Offshore Azerbaijan

BP Plc. (BP.L,BP_UN.TO,BP) and its partners have sanctioned $6 billion the Azeri Central East project, BP said Friday.

Azeri Central East project, next stage of development of the giant Azeri-Chirag-Deepwater Gunashli oilfield complex in the Azerbaijan sector of the Caspian Sea, is expected to produce up to 100,000 barrels of oil per day. The project is expected to achieve first production in 2023 and produce up to 300 million barrels over its lifetime.

Azeri-Chirag-Deepwater Gunashli participating interests are BP (30.37 per cent), SOCAR (25.0 per cent), Chevron (9.57 per cent), INPEX (9.31 per cent), Equinor (7.27 per cent), ExxonMobil (6.79 per cent), TPAO (5.73 per cent), ITOCHU (3.65 per cent), ONGC Videsh Limited (OVL) (2.31 per cent).

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Crate and Barrel have recalled 1,500 push walkers due to risk of choking and laceration. Crate and Barrel have recalled Activity Push Walkers as those walkers can be damaged over time exposing sharp points and small parts, posing choking and laceration hazards to small children. The wooden recalled... YouTube is finalizing plans under which it will no longer serve "targeted" advertisements on its main site for videos meant for kids, Bloomberg reported, citing people familiar with the discussion. While the plan is reportedly intended to satisfy U.S. regulators, it could negatively impact the Google-owned video giant's ad sales as kids' content on YouTube is immensely popular. Apple Inc. (AAPL) is in the final stages of certifying advanced flexible Organic Light Emitting Diode or OLED screens from Chinese display maker BOE Technology Group for iPhones next year, the Nikkei Asian Review reported citing source. The U.S. tech giant has been attempting to reduce reliance on Samsung Electronics of South Korea.
Follow RTT