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Volume of Azerbaijani lucrative oil from ACG to increase by 2 million tons in 2010

Oil&Gas Materials 5 June 2010 17:44 (UTC +04:00)

Azerbaijan, Baku, June 5 / Trend E. Ismayilov /

According to the forecasts, about 42 million tons will be extracted in 2010 within the project to develop the block oil and gas fields "Azeri-Chirag-Guneshli" (ACG) compared to 40.2 million tons last year, a message said.

About 29 million of the total amount will fall to the lucrative oil of Azerbaijan compared to 27.2 million tons last year.

According to the data, 34 million tons of oil was extracted in 2008 from ACG (oil profit - 21,6 million tons), in 2007 this figure amounted to 32,9 million tons (profit - 7.1 million tons), in 2006 - 23.3 million (profit - 4,6 million), in 2005 - 13,2 million (profit - 2,2 million), in 2004 - 6.6 million (profit - 0,97 million), in 2003 - 6 5 million (profit - 1,11 million), in 2002 - 6.4 million (profit - 1,17 million), in 2001 - 5.9 million (profit - 0,95 million), in 2000 - 5 million ( profitable - 0,83 million), in 1999 - 4.8 million (profit - 0,14 million). In 1998, 2.37 million tons of oil was extracted from the ACG.

Participants in the project are BP (operator - 34.1367 percent of the equity), Chevron (10,2814 percent), SOCAR (10 percent), INPEX (10 percent), Statoil (8,5633 percent), ExxonMobil (8,006 percent), TPAO (6,75 percent), Devon Energy (5,6262 percent), Itochu (3,9205 percent), Hess (2,7213 percent).

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