ECONOMY


BP Azerbaijan Vice President: Total production from Azeri-Chirag-Gunashi oil fields exceeds 500 million tons

Baku, January 9, AZERTAC

A total of 500 million tons of oil has been produced since the commissioning of operation of Azeri-Chirag-Gunashli (ACG) oil fields in the Azerbaijan sector of the Caspian Sea, BP Vice President for Communications, External Affairs and strategy in Azerbaijan, Georgia and Turkey region Bakhtiyar Aslanbayli has told AZERTAC.

Aslanbayli noted that the ACG platform Chirag started producing oil on November 7, 1997. Since then, more than 500 million tons of oil have been extracted from the field’s block. The 500 millionth tons of oil from the ACG was produced at the end of December of last year.

Direct revenue of the Azerbaijani government from the ACG block of oil fields exceeds $140 billion. BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.

ACG participating interests are: BP (30.37%), SOCAR (25.0%), Chevron (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).

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