Baku, Azerbaijan, Dec. 29
By Maksim Tsurkov – Trend:
Oil production as part of the project of developing the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea is projected at 204.4 million barrels (28 million tons) in 2018, according to the information published in the conclusion of Azerbaijan’s Chamber of Accounts on the SOFAZ budget for 2018.
“The oil production volume projected for 2018 is by 7.3 million barrels less than in 2017 (211.7 million barrels),” reads the document.
The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in Baku Sept. 14, 2017.
The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.
(1.7001 manats = 1 USD on Dec. 29)
---
Follow the author on Twitter: @MaksimTsurkov