$42 billion has been invested in ACG project - Khoshbakht Yusifz

In 2016 SOCAR’s Azneft PU produced 6.2 million tonnes of oil and 5.6 billion cubic meters of gas.

The statement came from Khoshbakh Yusuifzade, First Vice-President of SOCAR, who spoke at the 24th International Caspian Oil and Gas conference.

According to him, ACG is the biggest oil and gas project of Azerbaijan: “Totally, $42 billion has been invested in this project so far. The field has totally produced 428.4 million tonnes of oil and 133 billion cubic meters of gas”.

SOCAR official noted that gas production within Shahdeniz 1 makes up 9 bcm: “Shahdeniz 2 will produce 16 bcm of gas in addition. As at early May, 93% works have been completed within the project”. 


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