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WITHIN THE FRAME OF THE EXHIBITION



Industry News

07.03.2013 12:45

236 mln tonnes of oil extracted on “Contract of the Century”

Baku. Vahab Rzayev – APA-Economics. 236 mln tonnes of oil have been extracted so far within the exploitation of Azeri-Chirag-Guneshli fields’ block, said the first Vice-President of State Oil company of Azerbaijan Khoshbakht Yusifzadeh at the Forum of Technologies held in Baku.

According to him, of this, 150 mln tonnes were Azerbaijan’s profit oil: “Annual oil production is 50 mln tones, while it was 9 mln tonnes in 1997. Though the oil to be produced from ACG within the Contract of the Century is forecasted to make 510 mln tonnes, the exploration works reached the forecast 900 mln tonnes”.

Yusifzadeh also noted that certain problems were observed in ACG during past 2 years and consequently it influenced the oil extraction; “For the present, the situation in the fields’ block were stabilized as a result of BP-Azerbaijan’s works”.

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