Ilham Aliyev: ACG contract to be extended until 2050

Baku, Azerbaijan, Sept. 6 Trend: A new contract on the development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields is planned to be signed in a few days, said Azerbaijani President Ilham Aliyev. He made the remarks in Baku Sept. 6 at a ceremony to launch a new subsea construction vessel for the Shah Deniz Stage 2, built by Baku Shipyard under an order by BP. “We will prolong our activity at this field until 2050. This once again demonstrates that Azerbaijan has very big oil reserves,” noted the president.