BAKU, Azerbaijan, February 22. A total of 570 million tons of oil and 205 billion cubic meters of natural gas have been produced from the of the Azeri-Chirag-Gunashli (ACG) block of fields since its commissioning, First Vice-President of the State Oil Company of Azerbaijan (SOCAR) Khoshbakht Yusifzade said during the event "National leader Heydar Aliyev is the author of Azerbaijan's independent energy policy", Trend reports.
According to Yusifzade, about 60 percent or 345 million tons of produced oil was sold on foreign markets, which served as an impetus for the further economic development of the country.
"After the signing of the Contract of the Century, Azerbaijan signed another 35 agreements. In 1997, the volume of oil production in Azerbaijan on an annualized basis was only nine million tons, but with the implementation of the Contract of the Century, oil production increased by 5.6 times and reached 51 million tons in 2010," he reminded.
bp Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
ACG participating interests are: bp (30.37 percent), SOCAR (25 percent), MOL (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), ONGC Videsh (2.31 percent).
During 2022, ACG continued to safely and reliably deliver stable production. Total ACG production for the full year was on average about 415,400 barrels per day (b/d) (about 152 million barrels or 20 million tonnes in total) from the Chirag (25,200 b/d), Central Azeri (104,100 b/d), West Azeri (106,400 b/d), East Azeri (64,000 b/d), Deepwater Gunashli (76,300 b/d) and West Chirag (39,400 b/d) platforms.