The total volume of oil production from the Azeri-Chirag-Guneshli (ACG) fields for the entire period from the beginning of development (November 1997) to August 15, 2016 amounted to 3 billion barrels (405 million tons), according to BP-Azerbaijan.
"This is a momentous day both for BP and Azerbaijan," says the information with reference to the President of BP-Azerbaijan Gordon Birrell.
The contract to develop Azeri, Chirag and Deepwater Guneshli was signed on 20 September 1994 and entered into force on 12 December of the same year.
Participants of the project are: BP (35.78% - the operator), Chevron (11.27%), Exxon Mobil (8%), Indian ONGC (2.72%), Azerbaijan's SOCAR (11.65%), Japanese Inpex Corp. (10.96%) and ITOCHU Oil (4.3%), Norwegian Statoil (8.56%), and Turkish TPAO (6.75%).
* Extraction of oil from Chirag has been carried out from November 1997, from Central Azeri - from 13 February 2005, from Western Azeri – from 30 December 2005, from Eastern Azeri – from 21 October 2006, from Deepwater Guneshli – from the beginning of April 2008, and from Western Chirag – from January 29, 2014. -12D--
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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