From November 1997 till mid-April 2015 365 million tons of oil was extracted from the bloc of offshore oil field Azeri-Chirag-Guneshli (ACG) in Azerbaijan, Academician Khoshbakht Yusifzada, SOCAR Senior Vice President, said at the session of the Presidium of the Azerbaijan National Academy of Sciences.
He said of this volume profitable oil of Azerbaijan totaled 198 million tons.
Income from profitable oil is accumulated at the State Oil Fund of Azerbaijan (SOFAZ).
A source from SOFAZ told Turan that from 2001 till April 17, 2015 $112,345,000 was transferred to SOFAZ from the ACG. In quarter 1, 2015 the incomes totaled $2,195,000,000.
From 2004 till 2014 the state budget received over $20 billion from the ACG production sharing agreement (PSA).
In his speech Academician Yusifzada said that since November 1997 the volume of associated gas extracted from ACG totaled 107 billion cub.m.
At present about 35 million cub.m. of associated gas a day is extracted on ACG, but only about 6 million cub.m. of gas is handed over to the Azerbaijani side. BP injects the remaining volume into the oil wells to maintain the bed pressure.—0—
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