Extraction of first oil on ACG started 17 years ago

On November 7, 1997 Azerbaijan International Operation Company (AIOC), which was created to develop the Azeri-Chirag-Guneshli (ACG) offshore fields, extracted the first oil on the Chirag-1 platform installed on the Chirag field.

According to BP-Azerbaijan company (operator), since that time over 84 million tons of oil was extracted on the Chirag-1 platform.

Till April 1999 oil extracted on the Chirag-1 platform was exported only via the Baku-Novorossiysk pipeline. Since launching of the Baku-Supsa pipeline in April 1999, majority of extracted oil was exported via the western route. At present oil only from the Chirag field is transported via the Baku-Supsa route. Over 66 million tons of Azerbaijani oil was delivered to the world markets via this route.

By November 1, 2013 over 320 million tons of Azerbaijani oil was delivered to the world markets via the ACG. During this period (since December 1999) Azerbaijan received over 165 million tons of oil ($91 billion) as profitable oil, incomes from which are transferred to the Oil Fund. 

According to the BP estimates, till the end of the contract period (end of 2024 + 5 years) 730 million tons of oil could be extracted from ACG.

During 2012 32.9 million tons of oil was extracted within the ACG. This year it is expected to extract 32.5 million tons.—0—