TODAY.AZ / Business

Addax B.V. wins seventh 2006 Azeri Light tender

26 May 2006 [14:31] - TODAY.AZ
he Swiss company Addax B.V. has won a tender called by the State Oil Company of the Azerbaijani Republic (SOCAR) for the seventh consignment of Azeri Light crude oil produced at Azerbaijan's Azeri-Chirag-Gunashli (ACG) fields this year, a source at SOCAR told Interfax.

As Interfax informs, the consignment of 1 million barrels will be shipped from the port of Supsa on June 22-23.

Select Energy bought this year's first three consignments and Vitol bought the fourth and fifth, and Mitsubishi bought the sixth.

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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