US Company ExxonMobil estimated the Azeri-Chirag-Guneshli (ACG) project in $12bln, Trend reports citing Bloomberg. The production in the contract area is expected to reach 465,000 barrels day soon. A production Sharing Agreement on ACG was signed in September 1994. The efficiency term of PSA is 30 years. Production from Chirag was set up in 1997, in Central Azeri вЂ" early 2005, West Azeri вЂ" early 2006, East Azeri вЂ" late 2006. The commencement of the production from the Deepwater Guneshli field is scheduled for mid 2007. ACG Participating Interests are: BP (operator вЂ" 34,1%), Chevron (10,2%), SOCAR (10%), INPEX (10%), Statoil (8,6%), ExxonMobil (8%), TPAO (6.8%), Devon (5,6%), ITOCHU (3,9%), Amerada Hess (2,7%).
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