From January to October 2015 26 million tons of oil and 10 billion cub.m. of associated gas has been extracted from the Azeri-Chirag-Guneshli (ACG) bloc, said SOCAR Senior Vice President Khoshbakht Yusifzada.
“Over 86,500 tons of oil and 33 million cub.m. of associated gas a day is extracted on the ACG bloc. During 10 months, 2015 26 million tons of oil has been extracted on the ACG bloc, of which 65% or 17 million tons was profitable oil of Azerbaijan,” Yusifzada added.
He said since beginning of the field development till November 1, 2015 total volume of oil extracted on the ACG bloc (since November 1997) exceeded 380 million tons, of which 209 million tons is profitable oil of Azerbaijan.
“Till the end of 2015 total volume of oil extracted on the ACG will reach 385 million tons and over 700 million tons by 2060,” he said.
Yusifzada added that during 10 months, 2015 28 million tons of oil was exported from Azerbaijan, of which 24 million tons via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline. Since beginning of Azerbaijani oil export till November 1, 2015 Azerbaijan has exported 396 million tons of oil to the word markets, of which 288 million tons via the BTC oil pipeline—0—
Economics
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Global food prices decreased in 2024, but Azerbaijan bucked the trend, recording a rise in food expenditures. Experts believe this necessitates urgent expansion of agricultural production to safeguard the domestic market.
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Italy, one of the European Union's largest economies, solidified its position as a key importer of Azerbaijani natural gas in 2024, despite a notable decline in domestic gas consumption. The country imported 58.7 billion cubic meters (bcm) of natural gas, meeting most of its annual demand of 61.7 bcm—a 2.5% drop compared to 2023. This data, reported by the Italian energy market regulator GME, highlights shifts in Italy’s energy sourcing and consumption patterns.
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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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