By the end of 2013 from 32.7 million tons of oil produced in the Azeri-Chirag-Gunashli (ACG), 22.3 million tons fell on profit oil of Azerbaijan. This was announced today at an international conference in Baku on the Caspian Sea shelf the first vice-president of State Oil Company of Azerbaijan (SOCAR) Khoshbakht Yusifzadeh.
That is, in the last year of the oil produced more than 68% went to Azerbaijan as a profit, but if we consider the cost and the number of companies, the profitable part of the state was about 80%.
According to him, since the beginning of the development of ACG (November 1997 - August 2014) there were produced 345 million tons of oil and 100 billion cubic meters of gas.
"As of September 1, 2014 in the framework of the ACG data volume of profit oil to the Azerbaijani side was 185 million tons," said the first vice-president of SOCAR.
The first batch of profit oil within ACG was obtained by the Azerbaijani side in late December 1999.
Average daily production at ACG is 90 000 tons of oil and 35 million cubic meters of gas.
The contract to develop large offshore ACG was signed in 1994. Duration of the agreement is 30 years. Proved oil reserves of the block according to SOCAR are 923 million tons.
Participants in the project are: BP (operator) – 35.78%, Chevron – 11.27%, Inpex – 10.96%, SOCAR – 11.65%, Statoil – 8.56%, Exxon Mobil - 8%, TPAO – 6.75%, Itochu – 4.3% and ONGC – 2.72%. -12C--
Economics
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