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Azerbaijan energy potential

Azerbaijan energy potential. Dr. Ingilab Ahmadov Khazar University 2008/2009. Azerbaijan: country profile. Independence re-gained: 18 October 1991 Location: South Caucasus Total area: 86,600 km² Population: (January 1, 2008): 8,6 mln. Official language: Azerbaijani

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Azerbaijan energy potential

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  1. Azerbaijan energy potential Dr. Ingilab Ahmadov Khazar University 2008/2009

  2. Dr.İngilab Ahmadov

  3. Azerbaijan: country profile • Independence re-gained: 18 October 1991 • Location: South Caucasus • Total area: 86,600 km² • Population: (January 1, 2008): 8,6 mln. • Official language: Azerbaijani • Currency: Manat (AZN) • GDP per capita: 5550 USD • FDI: $3790.7 mln. Dr.İngilab Ahmadov

  4. Main economic indicators related to oil wealth Dr.İngilab Ahmadov

  5. Inflation dynamics Dr.İngilab Ahmadov

  6. Economic growth (2008) • Robust economic growth in recent years, supported by high oil production and export and higher oil prices • Oil sector’s share in GDP (52.8%) (2007) • Oil sector’s share in Budget revenues (64%) • Oil sector’s share in Investment (51%) • Oil sector’s share in Export (97%) Dr.İngilab Ahmadov

  7. Oil & gas sector • Provenoil reserves: 7 billion bbl (2005) • Oil production: 44.5 mln. tons(329 mln.bbl) (2008) • Oilexports: 35 mln. tons(259 mln.bbl) (2008) • Provennatural gasreserves: 2 trillion cu m (2008) • Natural gas production: 16.3 billion cu m (2008) • Natural gas export:1.7 billion cu m (2007) • Total active of the State Oil Fund- 11.2 bln.USD (January 2009) Dr.İngilab Ahmadov

  8. Firstoil well in the world was drilledin 1846 in Baku near “Bibi Heybat” Firstwagon cistern for oil transportation in the world wasexploited in 1872in Baku First tanker in the world was built in 1871 in Baku by Royal Dutch Shell company First (wooden) pipeline in the world –Baku-Batum was built in 1905 Azeri oil history Dr.İngilab Ahmadov

  9. Crude oil proven reserves in CIS Dr.İngilab Ahmadov

  10. Regional distribution of proven oil reserves Dr.İngilab Ahmadov

  11. Global distribution of proven oil reserves Dr.İngilab Ahmadov

  12. Crude oil Production in CIS Dr.İngilab Ahmadov

  13. Oil production growth Oil production in the Caspian Sea region 210,000 +86% +270% 870,000 113,000 235,000 1,400,000 +163% 533,000 Dr.İngilab Ahmadov

  14. Azerbaijan outlook Oil production outlook for Azerbaijan Dr.İngilab Ahmadov

  15. Natural Gas reserves in CIS Dr.İngilab Ahmadov

  16. Natural Gas reserves in CIS Dr.İngilab Ahmadov

  17. Regional distribution of proven gas reserves Dr.İngilab Ahmadov

  18. Global distribution of proven gas reserves Dr.İngilab Ahmadov

  19. Azerbaijan energy sector.Oil production, consumption and reserves Dr.İngilab Ahmadov

  20. Azerbaijan energy sector. Gas production, consumption and reserves Dr.İngilab Ahmadov

  21. Ownership, liberalization, key players • Oil sector The State Oil Company of Azerbaijan Republic (SOCAR) is the state-owned oil and natural gas corporation in Azerbaijan. It produces oil and natural gas, operates two oil refineries and the running of oil and gas pipelines through out the country. SOCAR was established in September 1992 upon the merger of Azerbaijan's two state oil companies, Azerneft and Azneftkimiya. Azerneft was created after the Socialist Revolution through the nationalization of the Azerbaijani oil industry. • Gas sector Azerigasis one of three state-run companies concerned with the maintenance of Azerbaijan's energy sector. It has 100% Government ownership. • Electricity AzerEnerjy– state electric company – the monopolist on power generation, the country's national electricity network is divided into five regional grids: Baku, Nakhchivan, North (Sumqayit), South (Ali Bayramli), and West (Ganja). Each of these has been opened to foreign investors via joint stock companies. Regulation: Ministry of Industry and Energy Dr.İngilab Ahmadov

  22. Azerbaijan energy sector. Key players Oil and gas extraction and export: • State Oil Company of the Azerbaijan Republic (SOCAR); • British Petroleum (BP) and other foreign oil companies (Statoil, ExxonMobil, TotalFinaElf, Lukoil, Itochu and others) that are contractors in PSAs signed by the government; Oil and gas processing: • State Oil Company of the Azerbaijan Republic (SOCAR); The sale of oil products on the domestic market: • State Oil Company of the Azerbaijan Republic (SOCAR); • Azpetrol (private company); • ABU Petrol (private company) Dr.İngilab Ahmadov

  23. Azerbaijan energy sector. Key players Power generation and distribution: • Azerenergy JSC – a producer and distributor of electricity (100 per cent of shares belong to the state) Natural gas distribution: • Azerigas JSC – a gas distributing company (100 per cent of shares belong to the state) Dr.İngilab Ahmadov

  24. Oil factor short time oil boom huge revenues cash flow absorbing capture incomes Dr.İngilab Ahmadov 24

  25. Azerbaijan energy sector.SWOT Analysis Strengths: • Existence of oil and gas reserves (availability for at least 25 years within current development of reserves) • Common border with countries that possess considerable energy reserves: Russia, Iran, Kazakhstan and Turkmenistan • Location as a transit country • Availability of regional oil and gas pipeline • Established gas transmission network • Refining capacity Dr.İngilab Ahmadov

  26. Azerbaijan energy sector.SWOT Analysis Weaknesses: • Physicalobsolescenceofelectricity andgastransmission networks • Limited gas storage • A weak legislative and regulatory framework • TheunresolvedstatusoftheCaspianSeawithIranandTurkmenistan Dr.İngilab Ahmadov

  27. Azerbaijan energy sector.SWOT Analysis Opportunities: • Increased production of domestic resources (oil and gas) • Expansion of the transit infrastructure • Increasing volumes of the transit of Central Asian hydrocarbon reserves Dr.İngilab Ahmadov

  28. Azerbaijan energy sector.SWOT Analysis Threats: • Pressures on fiscal revenue streams as a result of explicit and implicit subsidies • The country’s transformation from an exporter of energy resources into an importer (in 25-30 years) • Proximity to conflict zones and terrorist threats • Dutch disease – potential problems of non-energy sectors of the economy Dr.İngilab Ahmadov

  29. PSA Contracts Dr.İngilab Ahmadov

  30. PSA Contracts Dr.İngilab Ahmadov

  31. PSA Contracts Dr.İngilab Ahmadov

  32. PSA Contracts Dr.İngilab Ahmadov

  33. PSA Contracts Dr.İngilab Ahmadov

  34. Thanks for your attention!

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