The status of oil and gas contracts in Azerbaijan following the results of 2021

The Agreement on the section of production (Production Sharing Agreement) on development the block of oil and gas fields "Azeri-Chirag-Gyuneshli" (AChG) was signed by "Azeri-Chirag-Gyuneshli" in September, 1994 for a period of 30 years, transfers Day.Az with reference to Trend. On September 14, 2017 to Baku with the assistance of President of Azerbaijan Republic Ilkham Aliev the government of the country and companies AzACG (State oil company Azerbaidjan), BP, Chevron, Inpex COR, Statoil, Exxon Mobil COR, TP, Itochu COR and Oil and Natural Gas COR Ltd Videsh signed the new agreement on development the AChG block till 2050. Share distribution on AChG looked as follows: Virtual reality - 30,37 percent; AzACG (State oil company Azerbaidjan) - 25 percent; ...