SOCAR First Vice President: 291 million tonnes of profit oil have been sold from ACG so far

Azeri-Chirag-Guneshli (ACG) has produced 498 million tonnes of oil and 164 bcm of gas since it was launched, Khoshbakht Yusifzade, the First Vice President of SOCAR, said in his interview to Xalq Gazeti, Report informs.

"The participants of the ACG have been benefitting from the sale of profit oil for 20 years. Since December 1999, the profit oil has been exported, while revenues from its sale were being spent on payments for capital investment. By December 1, 2019, Azerbaijan had sold 291 million tonnes of profit oil, which is more than 58.5 % of extracted oil," Yusifzade said.

He also noted that 555 million tonnes of Azerbaijani oil had been sold until December 1. Of this amount, 396 million tonnes were transported via BTC.