Bank Of Baku

Maximum period of production on ACG field block extended for 5 years

Maximum period of production on ACG field block extended for 5 years
# 03 June 2010 12:01 (UTC +04:00)
Baku. NIjat Mustafayev – APA-Economics. The maximum period of production on the Azeri-Chirag-Guneshli field blocks was extended from 2015 to 2020, Vitaly Baylarbayov, Deputy Vice-President, SOCAR informed.

Besides, he said that, gas production rose in Azerbaijan. According to first computations, the volume of gas reserves in Umid and Babek structures will be 500 bln cubic meters.

ACG participants are: BP (operator - 34,1%), Chevron (10,2%), SOCAR (10%), Inpex (10%), StatoilHydro (8,6%), ExxonMobil (8%), TPAO (5,6%), Devon (5,6%) and Hess (2,7%).
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