He added that 229 million tons of the produced oil accounted for profitable oil.
“As many as 440 million tons of Azerbaijani oil has been exported to global markets so far. Out of this volume 310 million tons of oil was transported via the Baku-Tbilisi-Ceyhan pipeline,” Yusifzade said.
A contract for developing the ACG field was signed in 1994. The proven oil reserve of the block nears 1 billion tons.
The shareholders of the project are BP (operator, 35.78 percent), Chevron (11.27 percent), Inpex (10.96 percent), AzACG (11.65 percent), Statoil (8.55 percent), Exxon (8 percent), TPAO (6.75 percent), Itocu (4.3 percent) and ONGC (2.72 percent).
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