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Monday, May 01, 2006

SOCAR calls sixth 2006 Azeri Light tender

BAKU. April 28 (Interfax) - The State Oil Company of the Azerbaijani Republic (SOCAR) announced a tender for the sixth consignment of Azeri Light crude oil produced at Azerbaijan's Azeri- Chirag-Gunashli (ACG) fields this year, a source at SOCAR told Interfax. The consignment of 1 million barrels will be shipped from the port of Supsa on May 27-28. Select Energy bought this year's first three consignments and Vitol bought the fourth and fifth. Azeri Light was bought last year by Glencore, Arcadia, UniPetrol, Total, R-Trading, Select Energy, Tupras, and BP. Fourteen consignments were sold last year in total. SOCAR has a 10% interest in the ACG project. Profitable oil is distributed among shareholders in proportion to their participation in the project. Participants in the Azeri-Chirag-Gunashli contract currently include British Petroleum - 34.1367%, the U.S. companies Unocal - 10.2814%, ExxonMobil - 8.0006%, Devon Energy - 5.6262%, and Amerada Hess -2.7%, Japan's INPEX Corp - 10% and ITOCHU Oil - 3.9205%, Norway's Statoil - 8.5633%, and Turkey's TPAO - 6.75%.

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