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Azerbaijan upstream summary

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02 November 2017

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: stabilising production, with PSC extension confirmed - The six-billion-barrel ACG oil field peaked at 823,000 b/d in 2010, with output since declining to about 600,000 b/d. In 2016, BP and partners signed a Letter of Intent to extend PSC expiry from 2024 to end-2049. Terms were ...

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
    • Drilling
      • Drilling activity
      • SOCAR
      • Future drilling plans
    • Offshore IOC activity
      • Offshore PSC drilling commitments
      • Offshore drilling challenges
    • Active IOC exploration licences (offshore)
      • Absheron (Deep Water)
      • Bahar 2
      • Dan Ulduzu-Ashrafi
      • Shafag Asiman
      • Shallow Water Absheron Peninsula (SWAP)
    • Potential IOC exploration licences (offshore)
      • D230
    • Other IOC exploration licences (offshore)
      • Alov
      • Lerik
    • Semi-submersible rigs
    • Jack-up rig
      • Saturn (formerly Trident 20 / Gurtulush)
    • IOC exploration licences (onshore)
    • Oil and gas reserve classification
      • Azerbaijani reserve classification system
      • Azerbaijani gas reserves
      • Wood Mackenzie methodology
    • Commercial reserves by basin
    • Technical reserves by basin
    • Commercial reserves by sector
      • Onshore
      • Offshore
    • Commercial 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 (TCP)
      • 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 Agreement (RSA)
      • Sample Cash Flow
      • Marginal government take calculation
    • Historical background
      • Joint Venture contracts (JVs)
      • PSCs

Tables and charts

This report includes 60 images and tables including:

  • Liquids production by field
  • Gas production by key fields
  • Key facts: Table 1
  • Location maps: Image 1
  • Remaining Commercial and Technical Reserves at 01/01/2018
  • Liquids and Gas Production 2017
  • 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 commercial reserves at 01/01/2018 (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
  • Commercial liquid reserves by region at 01/01/2018 (p+p)
  • Commercial gas reserves by region at 01/01/2018 (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 and Azerbaijan proposed area
  • Map of agreed Russia-Kazakh line and Turkmenistan proposed area
  • 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
  • GEM models

What's included

This report contains:

  • Document

    Country Overview

    PDF 1.81 MB

  • Document

    Country Overview

    XLS 1.20 MB

  • Document

    Country Overview

    ZIP 2.74 MB

  • Document

    Executive summary

    PDF 119.66 KB

  • Document

    Key facts

    PDF 66.70 KB

  • Document

    Location maps

    PDF 161.93 KB

  • Document

    Key companies

    PDF 120.84 KB

  • Document

    Geology

    PDF 339.35 KB

  • Document

    Exploration

    PDF 263.90 KB

  • Document

    Reserves and resources

    PDF 168.49 KB

  • Document

    Production

    PDF 196.51 KB

  • Document

    Infrastructure

    PDF 623.28 KB

  • Document

    Costs

    PDF 105.49 KB

  • Document

    Policy and regulation

    PDF 529.72 KB

  • Document

    Fiscal terms

    PDF 142.11 KB

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