Volumes of production from Azerbaijan's largest oil and gas fields revealed
By Trend
To date, 3.5 billion barrels of oil have been extracted from the Azeri-Chirag-Guneshli field, and more than 100 billion cubic meters of gas from the Shah Deniz field, BP Azerbaijan’s Vice President Bakhtiyar Aslanbayli said at a high-level forum on "Diversifying the economy - the role of the private sector" in Baku, Trend reports.
The vice president noted that over 27 years of its activity in Azerbaijan, BP has made a great contribution to the economy of Azerbaijan.
"BP plans to continue its active and successful operation in Azerbaijan. We are proud that BP is an operator in the country's main oil and gas projects," Aslanbayli said.
Further, the vice-president noted that since the conclusion of the "Contract of the Century" to the present day, there has been no change in the contract.
Aslanbeyli further noted the role of the oil sector in the development of the non-oil sector.
BP has made a significant contribution to the development of the non-oil sector in the country, Aslanbayli noted.
He added that BP has different programs in the social, agricultural, educational sectors and so on.
The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in Baku Sept. 14, 2017.
The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.
Shah Deniz participating interests are: BP (operator – 28.8 percent), TPAO (19 percent), AzSD (10 percent), SGC Upstream (6.7 percent), PETRONAS (15.5 percent), LUKOIL (10 percent) and NICO (10 percent).
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