| |
5 Pages

BP and partners confirm Azerbaijan's new 'Contract of the Century'

BP and partners confirm Azerbaijan's new 'Contract of the Century'

Report summary

BP, SOCAR and partners have finalised the PSC extension for Azerbaijan's Azeri Chirag Guneshli (ACG) oil megaproject. As announced in December 2016, the current 2024 expiry date will be extended to end-2049. The international partners will pay a US$3.6 billion bonus and SOCAR (Azerbaijan's NOC) will increase its stake from 11.6% to 25.0%. The agreement will take effect upon ratification by Azerbaijan's Parliament. We evaluate the announced terms and five key takeaways from this landmark event.

What's included?

This report includes 1 file(s)

  • BP and partners confirm Azerbaijan's new 'Contract of the Century' PDF - 902.51 KB 5 Pages, 0 Tables, 4 Figures


This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • ACG contract extension – the key terms
    • Our view
  • ACG contract extension – five highlights
    • 1)   Securing Azerbaijan's upstream future, with BP as operator
    • 2)   BP's latest long-term move
    • 3)   Consortium committed to a high-value asset
    • 4)   ACG offers low-cost and long-life production
    •  5)   A milestone for upstream contract extensions

In this report there are 4 tables or charts, including:

  • ACG contract extension – the key terms
    • ACG – new ownership structure
  • ACG contract extension – five highlights
    • BP-operated production (liquids and gas) in Azerbaijan, 2017-30
    • BP net upstream cash flow (ex-Rosneft), 2017-30 (nominal terms)
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

As the trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, we empower clients to make better strategic decisions with objective analysis and advice. Find out more...