Azerbaijan earned 5.5 bln USD from international offshore projects
Agreement on development of deposits "Azeri", "Chirag", "Deepwater Gunashli" signed on September 20, 1994.
Under the contract oil from ACG block of fields exported to the world market via the Baku-Tbilisi-Ceyhan and Baku-Supsa.
The participants of the ACG project are: BP (operator - 35,8%), SOCAR (11,6%), Chevron (11,3%), Inpex (11%), Statoil (8,6%), ExxonMobil (8%) , TPAO (6,8%), Itochu (4,3%), ONGC Videsh Ltd. (2.7%).
Agreement on development of gas condensate field "Shah Deniz" signed on June 4, 1996.
Participants in the project are: BP (operator - 28,8%), AzSD (10%), SGC Upstream (6,7%), Petronas (15,5%), LUKoil (10%), NİKO (10%) and TPAO (19%).Oil from the field "Shah Deniz" through the South Caucasus pipeline supplied to Azerbaijan, Georgia and Turkey. On December 22, 2009 SOCAR and Bahar Energy Company signed a contract for exploration, production and development of block of fields "Bahar-Gum Deniz".The term of the contract - 25 years, renewable for another 5 years.Under the contract, share of SOCAR - 20%, Bahar Energy Company - 80%.