Next year, oil production at ACG will decrease by 23.5 million barrels
The average annual oil production at the Azeri-Chirag-Guneshli (ACG) block of fields in 2023-2026 is projected at about 124.4 million barrels, the conclusion of the Accounts…
25th anniversary of First Oil from Chirag
Today we are celebrating the 25th anniversary of the first production from the Chirag platform. 25 years ago, on 7 November 1997, first oil from…
Construction of the topsides of the new BP platform in the Caspian Sea is 95% completed
In the first half of 2023, BP plans to send the support block and topsides of a new production platform to the sea as part…
SOCAR Vice-President: More than half of ACG oil has been transported to world markets
The Azeri-Chirag-Guneshli (ACG) block of fields has produced 553 million tons of oil and 194 billion cubic meters of gas so far, SOCAR’s First Vice-President,…
SOFAZ’s revenues from the sale of profitable oil from ACG doubled
Revenues to the State Oil Fund of Azerbaijan (SOFAR) from the sale of profitable oil and gas from the Azeri-Chirag-Guneshli (ACG) block in January-April 2022…
Gas revenues of the oil fund from the Shah Deniz project increased by 8.3 times
Proceeds to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable hydrocarbons from the Azeri-Chirag-Guneshli (ACG) bloc and the Shah Deniz field…
Azerbaijani Oil Fund announces revenue from two major offshore deposits
The State Oil Fund of Azerbaijan (SOFAZ) has announced revenue from the Azeri-Chirag-Guneshli (ACG) and Shah Deniz offshore fields in the Azerbaijani sector of the…
The revenues of the Oil Fund from the ACG project increased by more than $ 831 million
In January-August 2021, incomes to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli (ACG) block amounted to…
More than 66% of Azerbaijan’s oil production falls on the ACG block
Over 7 months of this year, under the operator of the British company BP, 13.3 million tons of oil were produced from the Azeri-Chirag-Guneshli (ACG)…
The leader in daily oil production At the ACG block is the West Azeri platform
Oil production at the Azeri-Chirag-Guneshli (ACG) block of fields in the first half of 2021 amounted to about 85 million barrels (11.4 million tons), thequarterly report…
Oil production from the ACG block in January-June decreased by 900 thousand tons
In January-June 2021, production from the Azeri-Chirag-Guneshli block of fields amounted to 11.4 tons of oil. According to the Ministry of Energy of the Republic…
In the first half of the year, the Oil Fund increased revenues from the ACG project by $ 148 million
Proceeds to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli (ACG) block amounted to $ 2 billion…
The collapse of production at the largest oil block in Azerbaijan
In January-May 2021, 9.5 million tons of oil (70 million barrels) were produced from the Azeri-Chirag-Guneshli (ACG) bloc of fields, by 9.52% or 1 million…
Hungary’s oil and gas company increases income from ACG
Hungary’s MOL Group received $305 million in profit from Azeri-Chirag-Guneshli (ACG) block of fields, located in the Azerbaijani sector of the Caspian Sea, Report informs, citing the…
ACG is expected to produce 4 billion barrel of oil this year
Until April 1, 2021, 3 billion 923 million barrels of oil were extracted from the offshore block of the Azeri-Chirag-Guneshli fields since the start of…
Azerbaijan Oil Fund revenues from ACG and Shah Deniz blocks collapsed
Income to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli (ACG) block and condensate from the Shah…
SOFAZ reveals revenues from ACG and Shah Deniz fields
The State Oil Fund of Azerbaijan (SOFAZ) has announced revenues from the Azeri-Chirag-Guneshli (ACG) and Shah Deniz fields in the Azerbaijani sector of the Caspian…
Volumes of oil and condensate exports from ACG and Shah Deniz fields revealed
As of March 1, a total of 558.7 million tons of oil (including condensate) have been produced at the Azeri-Chirag-Guneshli (ACG) block of fields and…
Oil Production from ACG Block Decreased by 10.3% in 2020
Oil production at the Azeri-Chirag-Gunashli (ACG) block of fields in 2020 amounted to about 175 million barrels (23.6 million tons), BP-Azerbaijan reports As reported, in…
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…
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…
- 1
- 2