Asia Petroleum Jobs - Job search, job opportunities, career development, Oil&Gas job, Offshore job, Petroleum job, Looking for job, Mining job, graduated, Vacancies Jobs, หางานบริษัทน้ำมัน

Home >> Career Resource >> FAQ

BP To Sign Azerbaijan Oilfield Extension Deal At End Of June

British oil company BP expects to sign a contract at the end of June extending its production sharing deal for Azerbaijan's biggest oilfields until 2050, the company's regional head said on Wednesday.
The existing deal is due to expire in 2024 and BP-led consortium and Azeri state oil firm SOCAR signed a letter of intent in December to continue developing the giant Azeri-Chirag-Guneshly (ACG) offshore fields until 2050. "End of June is a very reasonable time for it," Gary Jones, BP's regional head for Azerbaijan, Georgia and Turkey, told reporters when asked when the contract was due to be signed. "It's a big deal. We want to get it right." The shareholders in the consortium include BP, SOCAR, Chevron, INPEX, Statoil, ExxonMobil , TPAO, ITOCHU and ONGC Videsh. Azeri President Ilham Aliyev said on Wednesday he expected the contract to be signed soon. "We are thinking about development of the ACG bloc and I think we will reach a final agreement with investors," Aliyev said at the annual Caspian Oil & Gas conference in Baku. BP came under fire from Aliyev earlier this decade when the country's leader criticised the oil firm for lower than promised output levels. Oil output at ACG totalled more than 7.1 million tonnes in the first quarter of this year. Reuters l Reporting by Nailia Bagirova l writing by Margarita Antidze l editing by David Clarke

British oil company BP expects to sign a contract at the end of June extending its production sharing deal for Azerbaijan's biggest oilfields until 2050, the company's regional head said on Wednesday.

The existing deal is due to expire in 2024 and BP-led consortium and Azeri state oil firm SOCAR signed a letter of intent in December to continue developing the giant Azeri-Chirag-Guneshly (ACG) offshore fields until 2050.

"End of June is a very reasonable time for it," Gary Jones, BP's regional head for Azerbaijan, Georgia and Turkey, told reporters when asked when the contract was due to be signed. "It's a big deal. We want to get it right."

The shareholders in the consortium include BP, SOCAR, Chevron, INPEX, Statoil, ExxonMobil , TPAO, ITOCHU and ONGC Videsh.

Azeri President Ilham Aliyev said on Wednesday he expected the contract to be signed soon.

"We are thinking about development of the ACG bloc and I think we will reach a final agreement with investors," Aliyev said at the annual Caspian Oil & Gas conference in Baku.

BP came under fire from Aliyev earlier this decade when the country's leader criticised the oil firm for lower than promised output levels. Oil output at ACG totalled more than 7.1 million tonnes in the first quarter of this year.

Reuters l Reporting by Nailia Bagirova l writing by Margarita Antidze l editing by David Clarke

Related Career Resource

Vietnam Refinery Operator Valued At $3.2B Ahead Of IPO

Vietnam's sole refinery operator Binh Son Refinery (BSR) said on Thursday it has been valued at 72.88 trillion dong ($3.21 billion) as at end-2015, as it prepares for an initial public offering (IPO) late this year.

By : Reuters l Reporting by Mai Nguyen l Editing by Richard Pullin | June 05, 2017

Blast At China Petrochemical Plant Kills Eight, Injures Nine

An explosion rocked a petrochemical plant in China's eastern province of Shandong on Monday, killing eight people and injuring nine, state media and local government officials said.

By : Reuters l Reporting by John Ruwitch; Additional reporting by Ben Blanchard in BEIJING l Editing by Robert Birsel and Clarence Fernandez | June 07, 2017

Malaysia's Petronas Chemicals Posts Higher Profit

Malaysia's Petronas Chemicals Group Berhad on Monday reported a doubling in quarterly profit, helped by higher prices and sales volume, but remained cautious about recovery in the petrochemicals market as crude prices remain volatile.

By : Reuters l Reporting by A. Ananthalakshmi l Editing by Stephen Coates and Miral Fahmy | May 17, 2017

Guangzhou Gas Plans LNG Import Terminal, Eyes Partnership With Woodfibre

Guangzhou Gas Group plans to build a 2 million tonne per year import terminal for liquefied natural gas (LNG) on China's southern coast by 2020, possibly in partnership with Woodfibre LNG, an executive with the Chinese firm said.

By : Reuters l Reporting by Chen Aizhu l Editing by Tom Hogue | May 18, 2017