428 mln tons of oil extracted from "ACG" block so far

Baku. 1 June. REPORT.AZ/ 428,4 mln tons of oil and 133 bln cubic meters of gas extracted from "Azeri", "Chirag" fields and deepwater section of "Gunashli" field located in the Azerbaijani sector of the Caspian Sea ("ACG" project, Contract of the Century), from start of the development so far.

Report informs, First Vice-President of the State Oil Company of Azerbaijan Republic (SOCAR) Khoshbakht Yusifzade said at the International Caspian Oil and Gas Conference in Baku.

According to him, up to date $ 42 bln. investments and operating costs spent on "ACG" project.

Notably, ACG Production Sharing Agreement (PSA) was signed on September 20, 1994. BP (operator – 35,8%), SOCAR (11,6%), Chevron (11,3%), İnpex (11%), Statoil (8,6%), ExxonMobil (8%), TPAO (6,8%), Itochu (4,3%), ONGC Videsh Ltd. (OVL, 2,7%) are stakeholders of ACG.