ECONOMY


SWISS COMPANY WON TENDER FOR THE NEXT CONSIGNMENT OF AZERBAIJANI OIL

The Swiss company Glinkor won the tender for the purchase of the next consignment of profitable oil of Azerbaijan produced by AIOC from Chirag deposit (the contracted site of Azeri-Chirag-Guneshli) within the framework of the Early Oil project. According to the State Oil Company, 1 billion barrels of this Azeri Light brand oil will be transshipped fro the port Spusa in Georgia from 9-10 November. That makes the 29th consignment of profitable oil from Azerbaijan.

Tenders for the purchase of Profit Oil of Azerbaijan are held twice a month.

Overall exports of oil produced by AIOC from the Chirag along the western pipeline route Baku-Spusa for the past nine months of this year total 4.662 mln tonnes (3.775 mln tonnes for the first 9 months of 2002) including 526 thousand tonnes for the month of September.

The contract for the development of Azeri, Chirag and the deep sea part of Guneshli was signed on 20 September 1994 and came into effect on 12 December that same year.

Partners of this project include the British company bp (34.1367%), Unocal (10.2814%), ExxonMobil (8.0006%), Devon Energy (5.6262%) and Amerada Hess (1.0413%), SOCAR (10%), Inрex Corр. (10%) и ITOCHU Oil (3.9205%) Statoil (8.5633%), Turkish TPAO (6.75%) and Delta Oil (1.68%).

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