The total volume of oil produced from November 1997 to November 2016 from the block of fields Azeri-Chirag-Guneshli amounted to 412 million tons, said the First Vice President of SOCAR Khoshbakht Yusifzadeh.
“Out of this volume of oil 229 million tons accounted for the profit oil of Azerbaijan,” he said.
According to Yusifzadeh, 440 million tons of Azerbaijani oil was exported, including 310 million tons via the Baku-Tbilisi-Ceyhan pipeline.
* The ACG project partners are BP (35.78%, the operator), Chevron (11.27%), ExxonMobil (8%), Indian ONGC (2.72%), SOCAR (11.65%), Japanese Inpex Corp. (10.96%) and Itochu Oil (4.3%), Norwegian Statoil (8.56%), and Turkish TPAO (6.75%). -12D—
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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