AZERBAIJAN - The Inam JV.With the fifth PSA (Professional Services Automation) An information system designed to organize, track and manage all opportunities, work, resources, costs, revenues and invoices to improve the productivity and efficiency of the workforce. signed in 1998 by President Aliyev, this BP-operated offshore block is said to contain 2.2 bn barrels of oil and investment by the JV is expected to reach up to $3 bn. The partners are BP (25%), Shell (25%) and Socar (50%). In January 2002 BP hit high pressure in its first wildcat wildcat, common name of two Old World cats, the European wildcat, Felis sylvestris, of Europe and W Asia, and the African wildcat, or kaffir cat, F. lybica, of Africa and Asia. , drilled to 4,442 metres and in 137 metres of water by the semi-submersible rig Dede Gorgud. BP later suspended the well to bring in a higher-rated rig. Returning to Azerbaijan after almost 90 years, Shell in early 2000 got the 25% stake in the Inam venture half from Monument Resources (Caspian), a unit of Lasmo (which is now part of ENI), and half from Central Fuel Caspian Sea Caspian Sea (kăs`pēən), Lat. Mare Caspium or Mare Hyrcanium, salt lake, c.144,000 sq mi (373,000 sq km), between Europe and Asia; the largest lake in the world. of Russia. The Alov JV: With the PSA signed in mid-1998, the 1,400 sq km and BP-operated offshore Alov block is the largest granted in the Azeri sector of the Caspian, about 180 km south of Baku. It contains the Alov, Araz and Sharg structures believed to have 4 bn barrels of oil between 2,500-6,500 metres below the sea surface. Investment would be up to $10 bn. BP in 1999 did a 3D seismic survey and began drilling the first of three exploration wells, and planned to drill the third one in 2001. It said up to five more wells were to be drilled by 2004. However, the block is also being claimed by Iran which calls that area Alborz. On July 23, 2001, an Iranian navy gunboat gunboat, small warship for use on rivers and along coasts in places inaccessible to vessels of larger displacement. In the U.S. Civil War both sides used as gunboats, on the Mississippi and other rivers, any boat that had an engine and had room to mount a gun. forced two BP-operated survey vessels in the area to return to port (see background in DT) BP then decided to suspend work on this block until Baku and Tehran resolved the dispute. A 2D seismic survey of Alborz had been carried out by a consortium of Shell, Lasmo (now part of ENI) and the Iranian state-owned Khazar Explora-tion and Production Co. Kepco is a unit of NIOC NIOC National Iranian Oil Company NIOC Navy Information Operations Command (US Navy) NIOC Naval Information Operations Command (US Navy) NIOC Northern Illinois Orienteering Club . After the survey Tehran said its part of the Caspian, including Alborz, contained about 10 bn barrels of oil and 560 BCM BCM Baylor College of Medicine BCM Become BCM Business Communications Manager (Nortel) BCM Broadcom Corporation BCM Business Continuity Management BCM Business Contact Manager (Microsoft) of gas. Later Shell was said to have declined to participate in developing Alborz. The Alov JV is led by BP (15%). Its partners are Statoil (15%), ExxonMobil (15%), TPAO TPAO Türkiye Petrolleri Anonim Ortakligi (Turkish Petroleum Corporation) (10%), Alberta Energy (5%) and Socar (40%). |
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