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Tag: AÇG

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…

KBR received a contract in ACG-2 project

KBR, Inc. (NYSE: KBR) announced today that its joint venture with SOCAR has been awarded two separate Front-End Engineering Design (FEED) contracts for a new…

BP transfers nearly $95M to state budget

Oil and gas companies operating in Azerbaijan transferred AZN 258.8 million of profit tax to the state budget in 2016, Moore Stephens Azerbaijan said in…

Ilham Aliyev announced the signing of a new contract for the ACG project

A new contract on development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields is planned to be signed in a few days, said…

AIOC increased volume of associated gas to SOCAR by 59%

The volume of associated gas to SOCAR increased by 58.9%, compared with the first quarter in 2016. In the quarter I of 2017, the BP-led Azerbaijan International…

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