As of September 1, 2025, a total of 612.2 million tons of oil and 238.7 billion cubic meters of gas have been produced from the Azeri-Chirag-Gunashli (ACG) field block in the Azerbaijani sector of the Caspian Sea.
According to Report, citing the State Oil Company of Azerbaijan (SOCAR), today marks the 8th anniversary of the signing of the revised and supplemented Agreement on the joint development of the Azeri, Chirag and deep-water part of Gunashli fields.
Under the new agreement, the operation of the ACG block has been extended until 2050, and Azerbaijan’s share of profit oil is set at 75%.
In 2018-2025, the State Oil Fund of Azerbaijan (ARDNF) received $3.6 billion in bonuses under this agreement. Total investments in the field development until 2050 will exceed $40 billion.
In 2019, the final investment decision was made on the Azeri-Central-East project. In April 2024, first oil was produced under this project. This project is expected to produce up to 300 million barrels of oil.
As of today, the distribution of shares in ACG is as follows: SOCAR – 31.65%, BP – 30.37%, MOL Group – 9.57%, INPEX – 9.31%, ExxonMobil – 6.79%, TPAO – 5.73%, ITOCHU – 3.65%, ONGC Videsh Limited (OVL) – 2.92%.
