Azerbaijan's ACG Oil and Gas Fields Hit Significant Production Milestones

Azerbaijan's Azeri-Chirag-Gunashli (ACG) oil and gas fields have achieved significant milestones in their development. As of September 1, 2026, over 628 million tonnes of oil and 253 billion cubic meters of natural gas had been produced from the fields.

The production levels exceed initial targets set at the project's inception. The 'Contract of the Century' was signed on September 20, 1994, with 11 international oil companies participating. The agreement aimed to produce 500 million tonnes of oil from the ACG fields.

However, a revised Production Sharing Agreement was signed in 2017, extending the development period until 2050 and increasing SOCAR's participating interest to 25%.