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. Last Updated: 07/27/2016

AIOC Oil Increase

BAKU, Azerbaijan -- An $11 billion oil group led by BP Amoco in Azerbaijan is preparing to increase capacity in an export pipeline through Georgia to 70,000barrels per day, the consortium's vice president said Friday.

"In the past month we have been averaging about 50,000 barrels per day. We hope that over the weekend we will commission the last pumping station in Azerbaijan, which would enable us to pump around 70,000 barrels per day," said John Hollis, vice president of the Azerbaijan International Operating Co.

The rise in capacity will take some of the pressure off the AIOC, which was forced to halve output Tuesday on its offshore Caspian field Chirag, after a second pipeline running north via Russia and Chechnya shut down March 29.