Country Report

Azerbaijan upstream summary

Get this report

$3,400

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- Available as part of a subscription
- FAQ's about online orders

26 November 2018

Azerbaijan upstream summary

Report summary

Upstream industry dominated by two offshore megaprojects - The BP-operated Azeri Chirag Guneshli (ACG) oil field and Shah Deniz gas-condensate field account for the majority of production and investment.ACG focus: ongoing decline management, with PSC extension confirmed - The super-giant ACG oil field peaked at 823,000 b/d in 2010. Output has since declined to below 600,000 b/d. In 2017, BP and partners finalised an extension of the ACG PSC to end-2049. This enabled Front-End Engineering ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
    • Key projects
    • Other projects
    • Introduction
    • South Caspian basin
      • Structural (tectonic) elements
      • Absheron province
      • Gobustan province
      • Lower Kura province and Baku archipelago
    • South Caspian deepwater basin
    • Stratigraphy
    • Reservoirs and source rocks
    • North Caucasus-Mangyshlak basin
    • Licensing
    • Licensing and IOC activity
      • Licensing since 1991
      • 1991
      • 1992
      • 1993
      • 1994
      • 1995
      • 1996
      • 1997
      • 1998
      • 1999
      • 2000
      • 2001
      • 2002
      • 2003
      • 2004
      • 2005
      • 2006
      • 2007
      • 2008
      • 2009
      • 2010
      • 2011
      • 2012
      • 2013
      • 2014
      • 2015
      • 2016
      • 2017
      • 2018
    • Drilling
      • Drilling activity
    • SOCAR activity
    • IOC-led activity
      • Onshore
      • Offshore
      • Future drilling plans
    • Onshore
    • Offshore
    • Offshore drilling overview
      • Offshore PSC drilling commitments
      • Offshore drilling challenges
    • Active IOC exploration licences (offshore)
      • Absheron (Deep Water)
      • Ashrafi-Dan Ulduzu-Aypara
      • Bahar 2
      • D230
      • Shafag Asiman
      • Shallow Water Absheron Peninsula (SWAP)
    • Potential IOC exploration licences (offshore)
      • Goshadash
    • Other IOC exploration licences (offshore)
      • Alov
      • Lerik
    • Semi-submersible rigs
    • Jack-up rig
      • Saturn (formerly Trident 20 / Gurtulush)
    • IOC exploration licences (onshore)
      • Joint Study Agreements (JSA)
      • Southwest Gobustan
    • Oil and gas reserve classification
      • Azerbaijani reserve classification system
      • Azerbaijani gas reserves
      • Wood Mackenzie methodology
    • Reserves by basin
    • Resources by basin
    • Reserves by sector
      • Onshore
      • Offshore
    • Reserves by asset
    • Liquids
      • Historical liquids production
      • Future liquids production
    • Gas
      • Historical gas production
      • Future gas production
      • Gas markets
    • Introduction
      • Overview
      • Oil infrastructure
      • Oil transit
      • Gas infrastructure
    • Oil infrastructure
    • International pipelines
      • Baku-Tbilisi-Ceyhan (BTC) pipeline
      • Northern Route Export Pipeline (to Novorossiisk, Russia)
      • Western Route Export Pipeline (Baku-Supsa)
    • Transit of Central Asian crude (via BTC)
      • Turkmenistan (current)
      • Kazakhstan (previous) - Tengizchevroil (TCO)
      • Kazakhstan (potential) - Kashagan Contract Area
    • Ports and terminals
      • Dubendi (Baku port)
      • Sangachal
      • Storage facilities
    • Rail infrastructure
      • Baku-Tbilisi-Kars railway
    • Refineries
    • Gas infrastructure
    • International pipelines
      • Southern Gas Corridor
      • Legacy pipelines to/from Iran
      • Legacy pipelines to Georgia
      • Legacy pipeline to/from Russia
      • Legacy pipelines via Armenia (inactive)
    • Proposed gas pipelines
      • Trans-Caspian Gas Pipeline (TCGP)
      • Azerbaijan-Iran
      • Turkey-Nakhchivan
    • Gas processing / gas-feed facilities
      • Existing facilities
      • Future facilities
    • Underground gas storage (UGS)
    • Introduction
    • Capital costs
      • Capital expenditure by location
    • Operating costs
      • Operating expenditure by location
    • Key legislation
      • Subsoil Law (February 1998)
      • Energy Law (November 1998)
      • Energy Resources Law (May 1996)
      • Foreign Investment Law (January 1992)
    • Other legislation
      • Law on Gas Supply (May 1998)
      • Presidential Decree No. 150 (December 2004) and Internal Regulation of the Ministry of Industry and Energy of the Azerbaijan Republic (May 2006)
      • Law on oil and gas export activities
    • Regulatory body
      • Gas regulation
      • New Customs Code
      • State Oil Fund (SOFAZ)
    • State oil company
      • Southern Gas Corridor Company (SGC)
    • State participation
    • International boundaries
    • Legal status of the Caspian Sea
      • Overview
      • North Caspian Sea
      • South Caspian Sea
    • Licensing
    • Overview
    • Upstream
    • Midstream / downstream
    • Current fiscal terms
    • Production Sharing Contracts (PSCs)
      • State equity
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty and other production taxes
      • Local market oil obligation (LMO)
      • Cost recovery
      • Profit sharing
      • Contractor revenue entitlement
      • Product pricing
      • Corporate (or petroleum) income tax (CIT)
      • Additional profit taxes
      • Fiscal/Contractual ring fences
      • Dividend withholding tax
    • Risk Service Agreements (RSAs)
      • Sample Cash Flow
      • Marginal government take calculation
    • Historical background
      • Joint Venture contracts (JVs)
      • PSCs

Tables and charts

This report includes 56 images and tables including:

  • Key facts: Table 1
  • Location maps: Image 1
  • Remaining Commercial and Technical Reserves at 01/01/2018
  • Liquids and Gas Production 2018
  • Azerbaijan: sedimentary basins and geological trends
  • Simplified tertiary stratigraphy
  • Absheron province: Productive Sequence litho-stratigraphic units
  • Middle and Upper Productive Sequence: local stratigraphic nomenclature
  • Reserves and resources: Table 2
  • Remaining and produced reserves at 01/01/2019 (p+p)
  • Reserves and resources: Table 3
  • Reserves and resources: Table 4
  • Infrastructure: Table 1
  • Infrastructure: Table 2
  • Infrastructure: Table 3
  • South Caspian basin: tectonic elements
  • Exploration: Table 1
  • Block awards and relinquishments
  • Active licences: exploration and production
  • Reserves and resources: Table 1
  • Liquid reserves by region at 01/01/2019 (p+p)
  • Gas reserves by region at 01/01/2019 (p+p)
  • Production: Table 1
  • Production: Table 2
  • Liquids production by sector
  • Production: Table 3
  • Production: Table 4
  • Liquids production by basin
  • Production: Table 5
  • Production: Table 6
  • Liquids production by field
  • Production: Table 7
  • Production: Table 8
  • Gas production by sector
  • Production: Table 9
  • Production: Table 10
  • Gas production by basin
  • Production: Table 11
  • Production: Table 12
  • Gas production by key fields
  • Azerbaijan: oil infrastructure
  • Azerbaijan: rail network
  • Azerbaijan: gas infrastructure
  • Infrastructure: Table 4
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Costs: Table 4
  • Map of agreed Russia-Kazakh line, as well as Azerbaijan and Turkmenistan proposed areas
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • Fiscal terms: Table 5
  • Fiscal terms: Table 6
  • Fiscal terms: Table 7

What's included

This report contains:

  • Document

    Country Overview

    PDF 22.31 MB

  • Document

    Country Overview

    XLS 735.50 KB

  • Document

    Country Overview

    ZIP 22.11 MB

  • Document

    Executive summary

    PDF 717.46 KB

  • Document

    Key facts

    PDF 685.88 KB

  • Document

    Location maps

    PDF 3.14 MB

  • Document

    Key companies

    PDF 732.10 KB

  • Document

    Geology

    PDF 5.24 MB

  • Document

    Exploration

    PDF 3.73 MB

  • Document

    Reserves and resources

    PDF 776.88 KB

  • Document

    Production

    PDF 806.89 KB

  • Document

    Infrastructure

    PDF 10.02 MB

  • Document

    Costs

    PDF 713.39 KB

  • Document

    Policy and regulation

    PDF 2.68 MB

  • Document

    Fiscal terms

    PDF 750.59 KB