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Tag: AÇG

Only 20% of Produced Associated Gas from ACG Converted into Marketable Gas in 2020

172 bcm of associated gas were produced from the Azeri-Chirag-Gunashli (ACG) oil block from the start of development until August 1, 2020. This was announced…

Azerbaijan’s Revenues from ACG and Shah Deniz Decrease by Two Times

Proceeds to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil and gas from the Azeri-Chirag-Gunashli (ACG) block and the Shah…

Oil Fund Received $ 154 Billion, 73% Spent

The volume of revenues to the State Oil Fund of Azerbaijan (SOFAZ) in 2001-2019 amounted to $ 159.4 billion, is noted in the Fund’s annual report…

BP Provides 81.7% of Total Gas Production in Azerbaijan – Ministry of Energy

Gas production in Azerbaijan in January-May 2020 amounted to 16.4 billion cubic meters, an increase of 13.6% compared to the same period last year, the…

Oil Production at ACG Block Decreased by 0.6% in 2018

In 2018, the Azerbaijan International Operating Company (AIOC) produced 28,722,000 tons of oil from the Azeri-Chirag-Guneshli (ACG) field block. This is stated in the report…

SOFAZ gains over $135bn from ACG

Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the project of development of the country’s Azeri-Chirag-Gunashli (ACG) block of oil and gas fields…

ACG produced 7mn tons of oil in Q1

Total ACG production for the quarter 2018 was on average 597,000 barrels per day (b/d) (about 54 million barrels or 7 million tonnes in total)….

256mn tons of profit oil sold on ACG project so far

256 million tons of Azerbaijan’s share profit oil extracted from Azeri, Chirag fields and the Deep Water Portion of the Gunashli field in the Azerbaijani…

About 92% of revenues of Oil Fund depends on activities of ACG

According to the results of 2017, the State Oil Fund of the Republic of Azerbaijan (SOFAZ) received $ 6.41 billion from the sale of the…

Benthic signs for offshore geotechnical investigation in ACG platform

Australian Benthic, a global geosciences company, has secured a contract for an offshore geotechnical investigation in the proposed Azeri Central East platform location in the Caspian…

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