Until May 1, 2022, 553 million tons of oil and 194 bcm of natural gas were produced from the Azeri-Chirag-Guneshli (ACG) block of fields, SOCAR First Vice-President Khoshbaht Yusifzade stated on Friday at the Baku Energy Forum.
“Of this volume, 325 million tons or 59% fell on the profitable volumes of the state,” Yusifzade said. According to him, at present, the average daily oil production from the ACG is 59,000 tons of oil and 40 million cubic meters of gas.
Speaking about exports, Yusifzade stressed that today the total volume of oil exports from Azerbaijan amounted to 628 million tons. “Of these, 458 million tons are exported through the Baku-Tbilisi-Ceyhan pipeline,” he added.
The contract for the development of the Azeri, Chirag and deepwater Gunashli fields was signed in 1994. Oil production at the block began in November 1997.
* Income from the sale of profitable volumes of state oil within the framework of the ACG project is accumulated in the State Oil Fund of Azerbaijan (SOFAZ).
Source: Turan News Agency