16:50 - 9.01.2020

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January 9, Fineko/abc.az. Oil production from oilfield block Azeri-Chirag-Guneshli in the Azerbaijani sector of the Caspian Sea exceeded 500 million tons, stated BP Azerbaijan’s vice president for relations, foreign affairs and strategy Bakhtiar Aslanbeyli.

He noted that the first oil production from the Chirag platform on the ACG began on 7 November 1997. During this period more than 500 million tons of oil was extracted from the field block. And production of 500 million tons of oil from ACG accounted for the end of December 2019.

It should be noted that Azerbaijan's direct income from development of ACG block exceeds $140 bn.

The share of partners in ACG is: BP - 30.37%, AZACHG (SOCAR) – 25%, Chevron - 9.57%, Inpex - 9.31%, Equinor - 7.27%, ExxonMobil - 6.79%, TPAO - 5.73%, Itochu - 3.65% and ONGC Videsh Limited (OVL) - 2.31%. On behalf of the contractors of the ACG production sharing agreement, the operator is BP Exploration (Caspian Sea) Limited.