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
Apple Inc. is taking necessary precautions including Covid-19 testing for those employees returning to work at its headquarters in Silicon Valley, Bloomberg reported citing people familiar with the process. The company, which opened its main Apple Park office in May bringing back some hardware and software engineers, plans the gradual reopening of the building keeping the coronavirus safeguards. A U.S. appeals court has blocked the sales of Bayer AG's dicamba-based Xtendimax in the United States. The three-judge panel in the U.S. Court of Appeals for the Ninth Circuit ruled that the US Environmental Protection Agency (EPA) overstated the protections and substantially understated or ignored the risks related to the use of dicamba-based herbicides. Tesla Chief Executive Officer Elon Musk has called for a breakup of Amazon after the online retail giant refused to publish an upcoming book about COVID-19. Writer Alex Berenson said on Twitter that Amazon refused to publish his booklet about the coronavirus as it did not comply with the company's guidelines. Berenson is a former New York Times reporter.
Follow RTT