359.5 million tons of oil pumped from the Azeri-Chirag-Guneshli block

359.5 million tons of oil pumped from the Azeri-Chirag-Guneshli block

The volume of oil produced from Azeri-Chirag-Guneshli (ACG) block in Azerbaijan from November 1997 stood at 359.5 million metric tons, the first vice-president of the State Oil Company of Azerbaijan (SOCAR), Khoshbakht Yusifzadeh, said during the Caspian Energy Forum conference. Yusifzadeh added that 196 million cubic meters of the abovementioned volume accounted for Azerbaijan’s profitable oil.


But 22 million metric tons of profitable oil was produced in 2014.


"In the same period [since 1997], the volume of associated gas produced at ACG totaled 105.5 billion cubic meters. The annual production is 88,000 metric tons of oil and 35 million cubic meters of gas," Trend cited him as saying.


Furthermore, he said that 60 billion cubic meters of gas and 15 million metric tons of condensate have been produced at the Shah Deniz field since the beginning of its operation. "4.5 billion cubic meters of the total volume of produced gas were exported to Georgia, while 32 billion cubic meters were delivered to Turkey," the vice-president added.


According to Yusifzadeh, Azerbaijan’s total proven gas reserve is currently 2.55 trillion cubic meters, while the forecast reserve is nearly 6 billion cubic meters.

 

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