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Tag: AÇG

Oil Production from ACG in 2021 to Decrease by 3 Million Barrels

Oil production from the Azeri-Chirag-Guneshli (ACG) block of fields in 2021 will amount to 171.6 million barrels. This is noted in the conclusion of the…

Income of Oil Fund from ACG Project Noticeably Decreased

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 Shah Deniz…

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…

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