Thursday, April 17, 2014


Azerbaijan

Azerbaijan Wants Tighter Oversight On BP-Led Project

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Azerbaijan's Energy Minister Natiq Aliev has said there should be tighter control over the work of an international consortium led by British Petroleum.

Aliev said production at the Azeri-Chirag-Gunsehli site was "abnormal."

The Energy Minister's comments come after President Ilham Aliev said on October 12 that "numerous mistakes" by the BP-led consortium might have cost his country some $8 billion in lost revenue.

BP Azerbaijan says it is working with Azerbaijan's state company SOCAR to address production issues.

In 2010, production at the Azeri-Chirag-Guneshli site peaked at more than 823,000 barrels per day but in 2011 averaged only some 717,600 barrels per day.


Based on reporting by AP and ITAR-TASS

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