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    Azerbaijan sold 237 mln tons of profit oil on world market so far

    423,5  mln tons of oil produced since the beginning of ACG project©

    Baku. 25 April. REPORT.AZ/ As of April 1 this year, 423,5 mln tons oil and 131 bln cum gas produced from Azeri, Chirag and Deepwater Gunashli fields' block in the Azerbaijani sector of the Caspian Sea since the beginning of "ACG" project (Contract of the Century).

    Report informs, First Vice-President of the State Oil Company of Azerbaijan Republic (SOCAR) Khoshbakht Yusifzade said at SOCAR II International Caspian & Central Asian Region Downstream: Trade, Logistics, Refining, Petrochemicals Forum in Baku dedicated to the 94th anniversary of birth of Azerbaijani national leader Heydar Aliyev.

    K. Yusifzade noted that for the past 18 years participants of "Azeri-Chirag-Guneshli" project get revenue from the profit oil. As of  April 1, 2017, 237 million tons of profit oil sold on world market.

    SOCAR official noted that via the existing transportation routes 443 mln tons of oil were transported from Azerbaijan until April 1 2016. According to him, 328 mln tons of this were transported via the Baku-Tbilisi-Ceyhan pipeline.

    Notably, PSA agreement on ACG fields block joint development and production sharing was signed in September 20, 1994. BP (operator - 35,8%), SOCAR (11.6%); Chevron (11.3%); Inpex (11%); Statoil (8.6%); ExxonMobil (8%); TPAO (6.8%); Itochu (4.3%); and ONGC Videsh Ltd (OVL, 2.7%) are participants of the project.

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