Azerbaijan sold 291 million tons of profit oil so far - SOCAR

Thu 12 Dec 2019 08:26 GMT | 12:26 Local Time

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Some 291 million tons of profit oil have been produced in the Azerbaijani sector of the Caspian Sea at the Azeri-Chirag-Gunashli (ACG) oil and gas fields block by December 1 of this year, said first vice-president of SOCAR (State Oil Company of Azerbaijan), academician Khoshbakht Yusifzade.

“The ACG project participants have been receiving revenues from the profit oil for already 20 years. As of December 1, 2019, 291 million tons of Azerbaijan's profit oil has been sold in world markets, which accounts for more than 58.5 percent of total production,” he added.

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