Milestone in Azeri oil production
The deposits have been operated for 10 years running, the state oil company SOCAR told AssA-Irada.
In 1994, Azerbaijan signed a deal called the Contract of the Century, paving the way for the development of its oil fields with major oil companies of the world. First oil was extracted under the agreement on November 7, 1997.
AIOC predicts that 34 million tons of oil will be produced within the project this year.
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