| Type | Private |
|---|---|
| Industry | Petroleum |
| Founded | 1997 |
| Founder | Amoco (30%), SOCAR (20%), Itochu (20%), Unocal (25.5%), Delta Oil Company (4.5%) |
| Headquarters | Baku, Azerbaijan |
Key people | Thomas L. Klockenbrink (President) |
North Absheron Operating Company (NAOC) was an international petroleum consortium based in Baku, Azerbaijan created to explore and develop the Dan Ulduzu and Ashrafi prospects in the Azerbaijani sector of the Caspian Sea. The company started its operations in 1997. [1] On March 7, 2000 the company stopped operations after the management of company considered the contract was not financially profitable. [2]
NAOC was in charge of managing operations for Dan Ulduzu-Ashrafi bloc. The consortium consisted of operator Amoco (acquired by BP) (30%) and partners SOCAR (20%), Itochu (20%), Unocal (25.5%), Delta Oil Company (4.5%). [3] The 25-year PSA agreement between Azerbaijani government and the companies was signed on December 14, 1996 and ratified by the Azerbaijani Parliament on February 25, 1997. [4]
The PSA area covered some 453 km2 was located 105 km (65 mi) northeast of Baku and are believed to contain reserves of approximately 1 billion barrels and 65 billion cm of gas. [4] The first exploration well Ashrafi-1 was drilled in February 1998. The results indicated 620,000 cm and 3,400 bbl per day. [1]
Although the estimated investment foreseen for the project was $2 billion, over the period of exploration operations the company spent only a total of $64.5 million. [5] The initial right for development of the field was granted to Amoco and Unocal in 1992. The other partners joined in mid-1990s. [6]
NAOC was also involved in charity and humanitarian projects in Azerbaijan. The consortium paid for construction of housing for 100 Azerbaijani families that became refugees and IDPs displaced from their homes during the first Nagorno-Karabakh War. The housing complex is located in Mingachevir city. Construction of five community centers for refugees were also funded by NAOC through Relief International. Partial funding was also extended to Counterpart International for assistance with supplies for orphanages. [1]
NAOC may refer to:
The State Oil Company of Azerbaijan Republic, largely known as SOCAR is fully state-owned national oil and gas company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani segment of the Caspian Sea. It operates the country's only oil refinery, one gas processing plant and runs several oil and gas export pipelines throughout the country. It owns fuel filling station networks under the SOCAR brand in Azerbaijan, Turkey, Georgia, Ukraine, Romania and Switzerland.
Shah Deniz gas field is the largest natural gas field in Azerbaijan. It is situated in the South Caspian Sea, off the coast of Azerbaijan, approximately 70 kilometres (43 mi) southeast of Baku, at a depth of 600 metres (2,000 ft). The field covers approximately 860 square kilometres (330 sq mi). Stretching out over 140 square kilometres, the reservoir is similar in size and shape to Manhattan Island.
The petroleum industry in Azerbaijan produces about 873,260 barrels (138,837 m3) of oil per day and 29 billion cubic meters of gas per year as of 2013. Azerbaijan is one of the birthplaces of the oil industry. Its history is linked to the fortunes of petroleum. It is poised to become an important oil and gas producer once again.
Azeri–Chirag–Gunashli or Azeri–Chirag–Deepwater Gunashli is a complex of oil fields in the Caspian Sea, about 120 kilometres (75 mi) off the coast of Azerbaijan. It consist of Azeri and Chirag oil fields, and the deepwater portion of the Gunashli oil field. An overall estimated area of the development is 432.4 square kilometres (167.0 sq mi). It is developed by the Azerbaijan International Operating Company, a consortium of international oil companies, and operated by BP on behalf of the consortium. The ACG fields have estimated recoverable reserves of about 5 to 6 billion barrels of petroleum. As of the end of 2005, the production rate from eight pre-drilled wells at the platform was approximately 240,000 barrels per day (38,000 m3/d).
The South Caucasus Pipeline is a natural gas pipeline from the Shah Deniz gas field in the Azerbaijan sector of the Caspian Sea to Turkey. It runs parallel to the Baku–Tbilisi–Ceyhan pipeline (oil).
Azerbaijan International Operating Company is a consortium formed to implement the terms of the “Agreement on the Joint Development and Production Sharing for the Azeri and Chirag Fields and the Deep Water Portion of the Gunashli Field in the Azerbaijan Sector of the Caspian Sea” signed among SOCAR and international companies.
Azerbaijani-Japanese relations are bilateral relations between the Republic of Azerbaijan and Japan in the political, socio-economic, cultural and other fields.
Energy in Azerbaijan describes energy and electricity production, consumption and export in Azerbaijan.
Karabagh is an offshore oil and gas field in the Caspian Sea, located 120 km (75 mi) east of Baku, Azerbaijan, in the northern part of Absheron archipelago. A risk service agreement (RSA) for the development of the Karabagh field was signed on 30 May 2018, between SOCAR and Equinor (Statoil). The Karabagh oilfield is located 120 kilometres east of Baku, close to the SOCAR operated Shallow Water Gunashli (SWG) field and the BP operated Azeri Chirag Gunashli (ACG) field.
Chirag is an offshore oil field in the Caspian Sea, located 120 km (75 mi) east of Baku, Azerbaijan and is a part of the larger Azeri-Chirag-Guneshli (ACG) project. The production, drilling and quarters (PDQ) platform Chirag 1 (EOP) has been in operation since 1997. Chirag 1 has been producing the Early Oil from the ACG field. West Chirag is planned as an extension of ACG project.
Gunashli is an offshore oil field in the Caspian Sea, located 120 kilometres (75 mi) east of Baku, Azerbaijan, 12 kilometres (7.5 mi) southeast of Oil Rocks and its deep water section is a part of the larger Azeri–Chirag–Guneshli (ACG) project. The Azerbaijani translation of Gunashli means "sunny". Gunashli is believed to have more than 100 million tonnes of oil reserves.
Bahar is an offshore oil and gas field in the Caspian Sea, located 40 km (25 mi) southeast of Baku, Azerbaijan. The field was discovered in 1968 and was first developed in 1969. Prior to 2010, it produced approximately 16.8 million tonnes of oil and 128.7 billion cubic meters of gas. There had been up to 93 wells operating in the field during the peak of production; the number has since decreased to 16.
Gum Deniz is an offshore oil and gas field in the Caspian Sea, located 21 km (13 mi) southeast of Baku, Azerbaijan. The field has been in operation since 1955. Gum Deniz has produced approximately 28.9 million tonnes of oil and 27 billion cubic meters of gas to date. In March 2009, Azerbaijan drilled its last well No. 478 in Gum Deniz field before new production sharing agreement for development of the field was signed with a foreign company in December 2009. The well produces 50 tonnes of oil on daily basis.
Dan Ulduzu field is an oil and gas field located 105 km (65 mi) northeast of Baku, Azerbaijan, west of Karabakh field, in the northern section of Absheron archipelago. In Azerbaijani, Dan Ulduzu means Pole Star.
Ashrafi field is an oil and gas field located 105 km (65 mi) northeast of Baku, Azerbaijan, west of Karabakh field, in the northern section of Absheron archipelago.
Caspian Drilling Company is an international drilling company based in Baku, Azerbaijan. It was founded by State Oil Company of Azerbaijan Republic (SOCAR) and Santa Fe Inc. of US to conduct drilling services for many PSA agreements in Azerbaijan. SOCAR controlled 55% while Santa Fe held the remaining 45% of the stake.
Shafag-Asiman is a large complex of offshore geological structures in the Caspian Sea located 125 km (78 mi) southeast of Baku, Azerbaijan. The Shafag and Asiman structures have been previously called D8 and D10, respectively.
Umid gas field is the second largest natural gas field in Azerbaijan. It is situated in the South Caspian Sea, off the coast of Azerbaijan, approximately 75 kilometres (47 mi) southeast of Baku, at a depth of 170 metres (560 ft). In translation from Azerbaijani, Umid means Hope.
The Nobel Oil Group is a corporate group operating primarily in the Republic of Azerbaijan, USA, UK as well as in Romania. Registered in the UK, The Group provides integrated operating services within the oil and gas sector and is also developing its exploration and production capabilities.
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