Azerbaijan sold 240 mln tons of profit oil within ACG project

Baku. 2 June. REPORT.AZ/ Azerbaijan has sold 240 mln tons of profit oil produced from Azeri and Chirag fields, as well as deep-water deposits of Gunashli field (ACG project, Contract of the Century) located in Azerbaijani sector of the Caspian Sea by June 1, 2017.

Report informs, First Vice-President of the State Oil Company of Azerbaijan Republic (SOCAR) Khoshbakht Yusifzade told in his speech at Caspian Oil&Gas Conference in Baku.

“For 18 years, stakeholders of Azeri-Chirag-Gunashli project take income from profit oil. 428.4 mln tons of oil and 133 bln cum of gas were produced from the beginning of the development up to June 1, 2017.

SOCAR's First Vice-President told that as of June 1, 448 mln tons of Azerbaijani oil accessed world market, 333 mln tons of which were delivered through Baku-Ceyhan oil pipeline.

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 ACG project stakeholders.