Baku, September 14, 2025
Oil output from Azerbaijan’s giant Azeri–Chirag–Gunashli (ACG) block reached 612.2 million tons, with 238.7 bcm of gas produced as of September 1, SOCAR told Report.
Today also marks eight years since the amended and restated ACG production-sharing agreement was signed on September 14, 2017, extending field life to 2050 and setting Azerbaijan’s profit oil share at 75%.
Under the deal, the State Oil Fund (SOFAZ) received $3.6 billion in bonuses over 2018–2025; the eighth and final $450 million tranche arrived in January.
Development continues via the Azeri Central East (ACE) project—sanctioned in 2019—which delivered first oil in April 2024 and is expected to contribute up to 300 million barrels over its life.
Current ACG participating interests: SOCAR 31.65%, bp 30.37%, MOL 9.57%, INPEX 9.31%, ExxonMobil 6.79%, TPAO 5.73%, ITOCHU 3.65%, ONGC Videsh 2.92%.
