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Program on Stabilization of Oil Extraction in ACG to Be Long-Term

SOCAR is jointly working with BP on the program on stabilization of oil extraction in Azeri-Chirag-Gunashli block in the Caspian Sea.

The program will consist of two stages and cover the period between 2014-2024 and from 2014 till the end of the agreement.

The current oil extraction capacity of ACG is 95,000 tonnes per day, i.e. 33 million tonnes per year.

Source: APA

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