Azerbaijan reveals volume of oil produced and exported from ACG and Shah Deniz

Over 611 million tons of oil (including condensate) were extracted from the Azeri-Chirag-Gunashli (ACG), and Shah Deniz fields from the date of becoming operational till March 1, 2023, Report informs, citing the Ministry of Energy.

The ACG production made up 570 million tons of oil, while the Shah Deniz field produced 41 million tons of condensate.

During this period, 609 million tons of ACG and Shah Deniz oil (including condensate) were exported.

ACG is the largest oilfield in Azerbaijan. The first production sharing agreement (PSA) for the development of the oilfield was signed on September 20, 1994. On September 14, 2017, the agreement was extended until the end of 2049.