So far 232 mln tons of Azerbaijani profit oil sold on world markets

Baku. 18 January. REPORT.AZ/ 416.5 mln tons of oil and 128.2 bln cubic meters of gas was produced from "Azeri", "Chirag" fields and deepwater section of "Guneshli" field, located in the Azerbaijani sector of the Caspian Sea ("ACG" project, "Contract of the Century"), from start of the development till January 1, 2017.

Report informs, Khoshbakht Yusifzade, First Vice-President of the State Oil Company of Azerbaijan Republic (SOCAR), told "Respublika" (Republic) newspaper in his interview.

According to him, currently, monthly 2.6 million tons of oil and over 1 bln cubic meters of gas are produced from these fields: "Already for 18 years, participants of the "Azeri-Chirag-Guneshli" project earn revenue from profit oil. 231.8 mln tons of Azerbaijani profit oil was sold in the world market till January 1, 2017. Volume of profit oil is growing every year. 19.3 of 32.7 mln tons of oil, sold in the world market in 2016, namely 59% accounted for Azerbaijani profit oil.

The company official said that 435.4 million tons of Azerbaijani oil was delivered to the world market till January 1 this year and 321.7 million tons of this volume was transported via the Baku-Tbilisi-Ceyhan pipeline.

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.