(MENAFN- Trend News Agency)
BAKU, Azerbaijan, June 6. Oil from
Azeri-Chirag-Gunashli (ACG) is now being supplied to MOL Group's
refineries in Hungary and Slovakia, Senior Vice President for
E&P Operations at MOL Group Ádám Homonnay said during the
"Exploration and Production Opportunities in the Caspian Region"
panel at the 29th Baku energy Forum, Trend reports.
"With oil already reaching our refineries in Hungary and
Slovakia, ACG is vital to our operations in Azerbaijan. Maintaining
long-term ties in Azerbaijan as a trusted and productive partner is
MOL's top priority," he noted.
To note, BP Exploration (Caspian Sea) Ltd. operates on behalf of
the contracting parties of the ACG Production Sharing
Agreement.
The stakes in ACG are as follows: bp (30.37 percent), SOCAR
(25.0 percent), MOL (9.57 percent), INPEX (9.31 percent), Equinor
(7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent),
ITOCHU (3.65 percent), and ONGC Videsh (2.31 percent).
The Baku Energy Forum is supported by the Ministry of Energy of
Azerbaijan, with the State Oil Company of Azerbaijan Republic
(SOCAR) as the main partner. For the first time, the forum is being
held with the support of OPEC.
More than 600 delegates are participating in the forum, which
started on June 5. In addition to Azerbaijan, representatives from
Australia, Austria, Belarus, Belgium, Bulgaria, the UK, Hungary,
Georgia, Israel, India, Italy, Kazakhstan, Qatar, China, Latvia,
Monaco, the Netherlands, Norway, the UAE, Russia, Romania, Saudi
Arabia, Slovenia, the US, Uzbekistan, Ukraine, Finland, France, the
Czech Republic, Switzerland, Sweden, and Japan will also be
present. This year, the forum has a record number of speakers -
81.
The forum's agenda includes critical energy issues for both
Azerbaijan and the entire Caspian region. Key points on the agenda
focus on reviewing and financing projects related to energy
security, the energy transition, and green energy.
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