A total of 107.8 million tonnes of oil and 25 billion cubic metres of gas have been produced from the Chirag platform in Azerbaijan's sector of the Caspian Sea since it was commissioned through November 1 this year.
The Ministry of Energy told Report that November marks the 29th anniversary of the start of oil production from the Chirag platform, one of the symbols of Azerbaijan's oil industry.
The Azeri-Chirag-Gunashli (ACG) is Azerbaijan's largest oil field block. The first production-sharing agreement for its development was signed on September 20, 1994. A new agreement on the joint development of the fields and production sharing was signed on September 14, 2017. It provides for the development of the fields until the end of 2049.
The ACG partners are BP (30.37%), SOCAR (35.3%), MOL (9.57%), INPEX (9.31%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%) and ONGC Videsh Limited (OVL) (2.92%).