Nearly $3B allocated to Azeri Central East project

So far, $2.9 billion have been allocated to the Azeri Central East project (ACE), which is implemented within the framework of the development of the Azeri-Chirag-Guneshli oil and gas field block located in the Azerbaijani sector of the Caspian Sea, Shukur Sadikhov, head of the project's mechanical handover, told journalists.

“The total cost of the project is $6 billion. The project is 85% complete and 25 million hours of work have been completed without any damage. The first oil production here is planned for the first quarter of 2024,” he said.