Despite the accident in the Gulf of Mexico that caused a terrible ecological catastrophe, the company BP will stay on in the Caspian region. It even managed to enlarge its part in the block of oilfields "Azery-Chegar-Guneshly".
The company announced their decision to buy another part of "Devon» and now their stake in the project is 37.43%. The companies Chevron, Inpex and Itochu used their right to obtain the stock of the leaving partners and got 0.99%, 0.96% and 0.38%.
The agreement with Devon was planned in the beginning of the year and included obtaining not only the Caspian region part, but projects from round the world. But due to the events in Gulf of Mexico, not all of the deals happened.
And concerning Azerbaijan, BP said that it is a part of the long-term policy of the company to develop the Caspian region. According to SOCAR the amount of oil in the oilfield is about 1 billion ton of oil.
Besides that the development of gas that lies under the oil field is planned. According to the specialists the amount of gas is about 400-500 billion cubic meters.
It is notable that BP managed to get 2 million dollars from foreign banks. This money will go to developing the oilfield in Azerbaijan and solving the problem in the Gulf of Mexico.
SOCAR at the same time did not use its right to enlarge their stake. It may be a part of the deal between BP and the government of Azerbaijan. It may have been discussed during the visit of the head of the company, Tony Haywood, to Baku earlier this summer.
In August it was stated that the BTD pipeline will be used to transport Turkmen oil, though no agreements were reached.
The company "Dragon oil" which is responsible for the Turkmenian oil started using this pipeline as a way of stabilizing its position due to the sanctions against Iran, whose pipelines were formerly used.
