The Azerbaijan State News Agency

ECONOMY

NEXT BATCH OF PROFITABLE OIL REALIZED

22.10.2003 [19:57]
Print
A⁺ A^-

Winner of the tender for purchase of the next batch of profitable oil of the State Oil Company of Azerbaijan Republic (SOCAR), produced at the platform “Chirag” in the frame of the “Contract of the Century”, became the Swiss Company “Glencore”.

As stated, shipment of light oil of trademarks AzeriLight in amount of 1 million barrel will be realized on 9-10 November from the Supsa terminal in Georgia, SOCAR representative said. This is already SOCAR’s 29th batch of profitable oil in the frame of the project of full-scale development of the Azeri-Chirag-Guneshli (ACG) prospect. Another shipment of profitable oil is due in December.

All revenues received from the exported profitable oil of SOCAR, enter the account of the State Oil Fund of Azerbaijan. Currently, the Fund accumulated some 820 million USD.