Over 32 million tons of oil produced at ACG block in Azerbaijan last year

Photo: Over 32 million tons of oil produced at ACG block in Azerbaijan last year

 / Oil&Gas

Baku, Azerbaijan, Feb.5
By Emil Ismayilov - Trend:

Some 32.72 million tons of oil was produced at Azeri-Chirag-Guneshli oil and gas fields' block in the Azerbaijani sector of the Caspian Sea in 2013 compared to the expected 30.62 million tons, according to an article of Azerbaijani Energy Minister Natig Aliyev published in the Azerbaijan newspaper on Feb.5.

The largest volume of oil produced in Azerbaijan falls to the Azeri-Chirag-Guneshli block. The proven oil reserves amount to nearly one billion tons.

The indicated results were achieved thanks to measures taken by the partners in 2013 to stabilise the production volume at the block.

The contract for the development of the ACG large offshore field was signed in 1994.

Shares in the contract for development of the Azeri-Chirag-Guneshli block of fields is distributed as follows: BP (operator at Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - eight percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.

Aliyev pointed out that in total, 43.2 million tons of oil was produced in the country in 2013 compared to the forecasted 41.1 million tons.

Additionally, around 29.2 billion cubic meters of gas was produced in Azerbaijan in 2013 compared to the expected 27.5 billion cubic meters, according to the article.

Translated by L.Z.

Edited by S.M.

Follow us on Twitter @TRENDNewsAgency

 
MOST READ