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North Absheron Operating Company : ウィキペディア英語版 | North Absheron Operating Company
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. On March 7, 2000 the company stopped operations after the management of company considered the contract was not financially profitable. ==Overview== 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%). 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. The PSA area covered some 453 km2 was located northeast of Baku and are believed to contain reserves of approximately 1 billion barrels and 65 billion cm of gas.〔 The first exploration well Ashrafi-1 was drilled in February 1998. The results indicated 620,000 cm and 3,400 bbl per day.〔 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.〔(【引用サイトリンク】 title= Нет худа без добра. "Ашрафи" нашло судьбу )〕 The initial right for development of the field was granted to Amoco and Unocal in 1992. The other partners joined in mid-1990s.〔(【引用サイトリンク】 title= Speech of Heydar Aliyev on PSA agreement with foreign investors )〕
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