Volume of oil produced and exported from ACG and Shah Deniz announced

Nearly 605 million tons of oil (including condensate) were extracted from the Azeri-Chirag-Gunashli (ACG), and Shah Deniz from the date of becoming operational till October 1, 2022, Report informs, citing the Ministry of Energy.

The ACG production made up 565.2 million tons of oil, while the Shah Deniz field produced 39.8 million tons of condensate.

During this period, 603 million tons of ACG and Shah Deniz oil (including condensate) were exported.

ACG is the largest oil field block in Azerbaijan. The first production sharing agreement for the development of the deposit block was signed on September 20, 1994. On September 14, 2017, a new deal was signed on the joint exploitation of those fields and production distribution. This agreement envisages the development of the fields until the end of 2049.