Until today, 3.5 billion barrels of oil have been extracted from the Azeri-Chirag-Guneshli field, and more than 100 billion cubic meters of gas from the Shah Deniz field. On March 6, as Trend reports, BP Azerbaijan’s Vice President Bakhtiyar Aslanbeyli said this at a high-level forum on "Diversification of the economy - the role of the private sector" in Baku.
The contract for the development of the ACG unit was signed in 1994. In September 2017, a new agreement was signed in Baku on the development of the ACG block until 2050. Share participation in the project is as follows: BP (operator) - 30.37 percent, AzACG (SOCAR) - 25 percent, Chevron - 9.57 percent, INPEX - 9.31 percent, Equinor - 7.27 percent, ExxonMobil - 6, 79 percent, TP - 5.73 percent, ITOCHU - 3.65 percent, ONGC Videsh Limited (OVL) - 2.31 percent.
The contract for the development of the offshore Shah Deniz field was signed in June 1996. Proved reserves of the field are 1.2 trillion cubic meters of gas and 240 million tons of condensate.
Share distribution among the parties to the agreement: BP (operator) - 28.8 percent, AzSD - 10 percent, SGC Upstream - 6.7 percent, Petronas - 15.5 percent, Lukoil - 10 percent, NICO - 10 percent and TPAO 19 percent.