Abdullayev added that it has already been agreed to sign a new contract without waiting for 2024 and to present new conditions and a long-term program for the block’s further development.
The contract for development of ACG large offshore field was signed in 1994.
Shares in the contract are distributed as follows: BP (operator) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.55 percent, Exxon – 8 percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.
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