During 2013 22.3 out of 32.7 million tons of oil extracted on the Azeri-Chirag-Guneshli (ACG) bloc of fields fell to the profitable oil of Azerbaijan, Khoshbakht Yusifzada, SOCAR Senior Vice President, said at the international conference “Caspian Shelf” in Baku.
This means that last year Azerbaijan received over 68% of extracted oil as a profit, considering companies’ expenses and shares and the profitable part of the state constituted about 80%.
He said since the beginning of ACG bloc development (from November 1997 to August 2014) 345 million tons of oil and 100 billion cub.m. of gas has been extracted.
“By September 1, 2014 the volume of profitable oil from ACG handed over to Azerbaijan totaled 185 million tons,” said SOCAR’s Senior Vice President.
The first batch of profitable oil from ACG was received by Azerbaijan at the end of December 1999.
The average daily production volume on ACG totals 90,000 tons and 35 million cub.m. of gas.
The contract for development of a big offshore field ACG was concluded in 1994 for the period of 30 years. According to SOCAR, the proved oil resources of the bloc total 923 million tons.
The project partners include BP (operator) – 35.78%, Chevron – 11.27%, Inpex – 10.96%, SOCAR – 11.65%, Statoil – 8.56%, Exxon Mobil – 8%, ТРАО – 6.75%, Itochu – 4.3% и ONGC – 2.72%.
