Azerbaijan produces over 600 million tons of oil from ACG, Shah Deniz fields
As of March 1, 2024, 632.7 million tons of oil (with condensate) have been produced since the commissioning of the Azeri-Chirag-Gunashli (ACG) and Shah Deniz fields.
During the reporting period, 587.5 million tons of oil were produced from ACG, and about 45.2 million tons of condensate from Shah Deniz, News.Az reports citing the Energy Ministry's press service.
Some 630.7 million tons of that volume were exported.
Around 4.8 million tons of oil (with condensate) were produced in Azerbaijan in January-February 2024. Some 2.7 million tons of oil out of that volume were produced from ACG, 0.7 million tons (condensate) from Shah Deniz, 96,000 tons (condensate) from the Absheron field. Oil production (with condensate) through the State Oil Company of the Azerbaijan Republic (SOCAR) reached 1.3 million tons.
“Some 3.9 million tons of oil [with condensate] were exported during the first two months of this year - 3.4 million tons through the consortium, 0.5 million tons through SOCAR,” the ministry said.
The Azeri-Chirag-Deepwater Gunashli (ACG) field located about 100km east of Baku is the largest oilfield in the Azerbaijan sector of the Caspian basin.
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
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