Azerbaijan reveals revenue from ACG field for 2024

The Azeri-Chirag-Gunashli field generated $4.603 billion in revenues from January to October 1, 2024, News.Az reports, citing the State Oil Fund of the Republic of Azerbaijan (SOFAZ).

SOFAZ recorded a 12.04% decrease in revenues compared to previous period.

Azeri-Chirag-Deepwater Gunashli (ACG) field located about 100km east of Baku is the largest oilfield in the Azerbaijan sector of the Caspian basin

During the first half of 2024, ACG continued to safely and reliably deliver stable production. Total ACG production for the first half of 2024 was on average about 336,000 barrels per day

At the end of June 2024, 144 oil wells were producing, while 45 were used for water and eight for gas injection.

ACG is celebrating its 30th anniversary in 2024.

News.Az