ExxonMobil Operations in Azerbaijan

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Overview

ExxonMobil was one of the first international oil and gas companies to operate in Azerbaijan in the 1990s.[1]

Activities

ACG

Exxon is a member of the AIOC consortium of international companies exploiting the Azeri-Chirag-Guneshli (ACG) oil fields, in which it holds an 8 percent stake.[2]

Other fields

  • In 2002 Exxon announced it would surrender its production sharing agreement for the Oguz field without drilling a second well, but that it would drill a second exploratory well at the offshore Nakchivan gas field, despite failing to find commercial reserves with the first well so far.[4] Having signed a contract with SOCAR to explore the field in 1997 and spending US $150 million on the first well, the company later withdrew from the field and exploratory duties were taken over by German RWE.[5]
  • At a 2012 conference, SOCAR Deputy Vice President Vitaliy Baylarbayov suggested to press that SOCAR wwas in discussion with ExxonMobil to look into pre-existing and potentially new plays in the Caspian, looking at doing so on the "largest possible fields" which, according to energy analyst Matthew Hulbert, would mean Shah Deniz Stage 2. He comments that Azerbaijani gas production has clear 'synergies' with recent gas plays by Exxon in Iraqi Kurdistan.[6]

References

  1. "Oil in Iran between the Two World Wars" LNG World News, 14 July 2011.
  2. "AIOC signs six major Caspian Sea construction contracts", Offshore, retrieved 20 March 2013.
  3. "Exxon Azerbaijan awards 3D seismic contract", Oil and Gas Journal, 11 September 2000.
  4. "Exxon Drill Again at Azerbaijan's Nakchivan Field", Pravda.ru, 14 June 2002.
  5. "SOCAR, RWE agree to explore Caspian gas field", AzerNews, 11 March 2010.
  6. "Why Exxon Is More Interested In The Caspian Than The Gulf Of Mexico" Forbes, 21 September 2012.