Bp is part of a consortium in the Shah Deniz gas field, this gas field was discovered in 1999. It is one of the world’s largest gas-condensate fields, with over 30 trillion cubic feet - 1 trillion cubic meters - of gas in place. It is located on the deep water shelf of the Caspian Sea, 70 km south-east of Baku, in water depths ranging from 50 to 500 m. BP operates Shah Deniz on behalf of its partners in the Shah Deniz Production Sharing Agreement (PSA).
According to BP’s own web site the participating interests in Shah Deniz are: BP (operator – 25.5%), Statoil (25.5%), SOCAR (10%), LUKOIL (10%), NICO (10%), Total (10%), and TPAO (9%).
One of BP’s partners in the Shah Deniz gas field ~ NAFTIRAN INTERTRADE CO. (NICO) has been under U.S. sanctions since 2008, deemed an entity "owned or controlled by the Government of Iran.
Additionally, last February it was reported by Reuters that on February 1, 2012 [Iranian oil-trading firm] Naftiran Intertrade increased its holding in British oil giant BP Plc. by 1.85 million shares. It now holds a stake worth more than $190 million (121 million pounds).
BP’s business partner Iran is one of the foremost, self-proclaimed enemies of the West and one of the most serious threats to stability in the Middle East. But above all these concerns, the most menacing threat Iran poses to international security is its harnessing of nuclear energy for the purpose of developing a nuclear bomb.
BP alternative energy decided to pursue the development of their Cape Vincent Wind project under Article 10 of the Public Service law. This law, governs the siting of major electric generating facilities statewide. This new law takes the decision making away from communities and puts it into the hands of an appointed board. However there is another law signed by Cuomo in 2012 that may be of interest to BP as well, Jan.13, 2012 ~ Gov. Cuomo signed a law prohibiting companies that conduct $20 million or more in business with Iran’s energy sector from bidding on contracts in New York.
Will the Public Service Commission force our community into a deal with a company that consorts with our enemies?
Related links & Stories
BP website ~ Shah Deniz Consortium
Special report: For Iran oil trader, Western ties run deep
Sleeping with the Enemy: BP's Deals with Iran
Fact Sheet: The Threat from Iran(Updated October 2012)
Iran Sanctions Department of the Treasury
Department of Treasury resource Center