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News // Oil and gas worldwide

Volumes of production from Azerbaijan's largest oil & gas fields revealed

07 March 2019 , 14:07Neftegaz.RU476

Baku, March 7 - Neftegaz.RU. To date, 3.5 billion barrels of oil have been extracted from the Azeri-Chirag-Guneshli field, and more than 100 billion m3 of gas from the Shah Deniz field, BP Azerbaijan’s VP Bakhtiyar Aslanbayli said at a high-level forum on «Diversifying the economy - the role of the private sector», Trend reported.


The vice president noted that over 27 years of its activity in Azerbaijan, BP has made a great contribution to the economy of Azerbaijan. «BP plans to continue its active and successful operation in Azerbaijan. We are proud that BP is an operator in the country's main oil & gas projects,» Aslanbayli said.


Further, the vice-president noted that since the conclusion of the «Contract of the Century» to the present day, there has been no change in the contract. Aslanbeyli further noted the role of the oil sector in the development of the non-oil sector.


The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil & gas fields was held in 2017. During the next 32 years, there is the potential for more than $40 billion capital to be invested in the ACG oil field.

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