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.
 

- FAQ's about online orders
- Find out more about subscriptions

09 August 2019

Azerbaijan upstream summary

Report summary

Azerbaijan is a key oil and gas producer in the Caspian region. Its upstream industry is dominated by two BP-operated offshore megaprojects: the Azeri Chirag Guneshli (ACG) oil field and Shah Deniz gas-condensate field. They account for the majority of production and investment. Most liquids and gas are exported, chiefly to or via Turkey. This includes the new US$40 billion Southern Gas Corridor to Europe for Shah Deniz Phase Two. SOCAR, Azerbaijan's NOC, participates in all IOC-led projects. It also independently operates mature fields.

Table of contents

  • Executive summary
  • Key facts
  • Location maps
    • SOCAR
    • Majors
    • Other operators
      • Turkish operators
      • Asian operators
      • Russian operators
      • Iranian operators
      • Other notable IOCs and operators
    • Introduction
      • Onshore
      • Offshore
    • 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 rigs
    • IOC exploration licences (onshore)
      • Joint Study Agreements (JSA)
      • Southwest Gobustan
      • Muradkhanli Contract Area
    • Oil and gas reserve classification
      • Azerbaijani reserve classification system
    • Reserves by basin
      • Liquids
      • Gas
    • Resources by basin
    • Reserves by sector
      • Onshore
      • Offshore
    • Reserves by report
    • 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 monetisation 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
      • Model contract terms (for future licensing)
      • Government equity participation
      • Fiscal stability
    • Fiscal terms
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • PSC ring-fencing
      • PSC cost recovery
      • PSC profit sharing
      • Corporate income tax (CIT)
      • Fiscal treatment of decommissioning costs
      • Product pricing
      • Summary of modelled terms by development type
    • Risk Service Agreements (RSAs)
      • Sample Cash Flow
      • Marginal government take calculation
    • Historical background
      • Joint venture contracts (JVs)
      • PSCs

Tables and charts

This report includes 58 images and tables including:

  • Key facts: Table 1
  • Location maps: Image 1
  • Simplified tertiary stratigraphy
  • Absheron province: Productive Sequence litho-stratigraphic units
  • Middle and Upper Productive Sequence: local stratigraphic nomenclature
  • Reserves and resources: Table 3
  • Reserves and resources: Table 4
  • Infrastructure: Table 1
  • Infrastructure: Table 2
  • Infrastructure: Table 3
  • Remaining Commercial and Technical Reserves at 01/01/2019
  • Liquids and Gas Production 2019
  • Azerbaijan: sedimentary basins and geological trends
  • South Caspian basin: tectonic elements
  • Exploration: Table 1
  • Block awards and relinquishments
  • Active licences: exploration and production
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Liquids and gas reserves
  • Liquids reserves by sector
  • Gas reserves by sector
  • 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: gas infrastructure
  • Infrastructure: Table 4
  • Costs: Table 1
  • Costs: Table 2
  • Costs: Table 3
  • Costs: Table 4
  • Caspian Sea map
  • 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
  • Fiscal terms: Table 8
  • Fiscal terms: Table 9
  • Fiscal terms: Table 10

What's included

This report contains:

  • Document

    Country Overview

    PDF 17.69 MB

  • Document

    Country Overview

    XLS 818.00 KB

  • Document

    Country Overview

    ZIP 17.50 MB

  • Document

    Executive summary

    PDF 716.88 KB

  • Document

    Key facts

    PDF 685.24 KB

  • Document

    Location maps

    PDF 3.13 MB

  • Document

    Key companies

    PDF 734.44 KB

  • Document

    Geology

    PDF 5.24 MB

  • Document

    Exploration

    PDF 3.73 MB

  • Document

    Reserves and resources

    PDF 772.99 KB

  • Document

    Production

    PDF 803.78 KB

  • Document

    Infrastructure

    PDF 5.41 MB

  • Document

    Costs

    PDF 712.51 KB

  • Document

    Policy and regulation

    PDF 2.68 MB

  • Document

    Fiscal terms

    PDF 752.50 KB

Trusted by leading organisations