Azer News: AIOC invests $43 bln in Azerbaijan's energy projects

Azerbaijan International Operating Company (AIOC) invested $43.1 billion in the country's energy projects from 1995 to 2013.

"The mentioned funds were invested in the development of Azeri-Chirag-Gunashli (ACG) and Shah Deniz fields, as well as the Baku-Tbilisi-Ceyhan (BTC) oil pipeline and South Caucasus gas pipeline," British BP said in its Sustainability Report 2013.

BP said around 2.3 billion barrels of oil was produced at the ACG block of oil and gas fields in 1997-2013.

The ACG block of fields has been active since 1997. Production started from the Chirag part of the field and followed successfully by the Azeri Project; Central Azeri production in February 2005, West Azeri began producing in December 2005, and East Azeri came on stream in October 2006.
MORE