The Azerbaijan State News Agency

ECONOMY

‘248 million tons of oil produced from Azeri-Chirag-Guneshli field’

25.09.2011 [13:53]
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Baku, September 25 (AZERTAC). Roughly 248 million tons of oil was produced from the Azeri-Chirag-Guneshli (ACG) field in the Azerbaijani sector of the Caspian Sea since its exploitation, SOCAR First Vice-President Khoshbakht Yusifzade said at a conference marking the 20th anniversary of Azerbaijan`s state independence.

Yusifzade said some 120 million tons of the total produced oil is accounted for Azerbaijan’s profit oil.

To date, 160 million tons of oil was supplied to the world market through the Baku-Tbilisi-Ceyhan oil pipeline, he said.

Today, Azerbaijan`s proven gas reserves hit 2.55 billion cubic meters.

The country plans to develop the Babek, Nakhchivan, Shafag-Asiman and others fields. Discovery of gas reserves in these structures will ensure not only the country’s own needs, but also the needs of a number of European countries.