Industry and Energy

Home page

Industry and Energy

Shahdeniz produces 88.5 bcm of gas so far

30 January 2018 11:47 (UTC +04:00)

Shahdeniz field has produced 88.5 billion cubic meters of gas and 22 million tonnes of condensate so far, Energy Ministry said in its report on activity in fuel-energy complex in 2017.

According to the report, Azerbaijan conducted discussions with partners on joint exploration of deep parts of Azeri, Chirag and Guneshli fields and PSA and signed a new agreement on extension of ACG project.

According to the agreement, SOCAR’s share in ACG increased from 11.65% to 25%, foreign companies will pay $3.6 billion bonus to SOFAZ: ‘$40 billion is planned to be invested in ACG during next 32 years. Azerbaijan’s profit oil will make up 75%’.