Azernews.Az

By Aynur Jafarova

Azerbaijan exported 36,8 million tons of oil In 2012, the government report for 2012 presented to the Azerbaijani Parliament reads.

According to the report, 22, 7 million tons of the total volume of sold oil (66, 6 percent) produced by the consortiums developing a block of offshore oil and gas fields Azeri-Chirag-Guneshli (ACG) and Shah Deniz gas condensate field fell to Azerbaijan's share.

More than 8,8 million tons of oil and oil products were transported by transit through the Azerbaijani territory in 2012.

Also, Azerbaijan produced 43, 4 million tons of oil in 2012 compared to 45, 6 million tons in 2011. Last year, Azerbaijan produced 26, 8 billion cubic meters of gas compared to 25, 7 billion in 2011.

Around 8, 3 million tons of oil and 6, 8 billion cubic meters of gas of the total volume of oil and gas produced in Azerbaijan in 2012 accounted for the share of the State Oil Company of Azerbaijan -- SOCAR.

Moreover, the company also received 7 billion cubic meters of gas from ACG and Shah Deniz fields.

Shah Deniz field's reserves are estimated at 1.2 trillion cubic meters of gas.
The contract to develop the offshore field was signed in June 1996. Shareholders of the project are: BP (operator) and Statoil with 25.5 percent each, NICO, Total, Lukoil and SOCAR with 10 percent each, and TPAO with 9 percent.

Equity participation in the contract on ACG is distributed as follows: BP (operator) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itochu - 4.3 percent, and Hess 2.72 percent. Hess sold its share to Indian ONGC and the deal is expected to close in the first quarter of 2013.