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BAKU, Azerbaijan, April 3. Growing LUKOIL’s
share within the Shah Deniz gasoline challenge in Azerbaijan to 19.99 p.c
from 10 p.c two years in the past (this deal was closed in early 2022)
allowed the corporate to develop its overseas gasoline manufacturing portfolio
beneath the worldwide SEC (Securities and Trade Fee)
reporting system, Pattern studies.
“Relating to worldwide tasks, gasoline manufacturing in 2023
elevated by 0.6 p.c, reaching 17 billion cubic meters, attributable to
the rise in LUKOIL’s share within the Shah Deniz challenge in
Azerbaijan in 2022, in addition to the impact of Manufacturing Sharing
Agreements (PSA) within the situations of gasoline worth discount in 2023,”
the corporate’s report stated.
To notice, gasoline manufacturing at Shah Deniz has been ongoing since
December 2006, based mostly on a contract signed in 1996.
Presently, the challenge members are bp (29.99 p.c),
SOCAR (21.02 p.c), Lukoil (19.99 p.c), NICO (10 p.c),
and TPAO (19 p.c).
The reserves of Shah Deniz are estimated at 1.2 trillion cubic
meters, with one-sixth of the reserves extracted.
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