Brind.
  1. ExxonMobil has entered agreements with Azerbaijan and is negotiating a return to Iraq's oilfields, following previous operations in Kurdistan.

Azerbaijan Extends ACG Field Production Sharing Agreement until 2050

1 report, 1 independent Updated Sep 20
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

The Production Sharing Agreement for the Azeri-Chirag-Gunashli (ACG) field was amended and revised on September 14, 2017, extending the development period until the end of 2050. Under the revised agreement, Azerbaijan's share of profit oil was set at 75%, and SOCAR's participating interest increased to 25%.

From trend.az

Why it matters

Some supportBrind's analysis of the reports

The extension validates Azerbaijan's long-term oil and gas sector projects. As of September 1, 2026, the ACG field had produced more than 628 million tonnes of oil and 253 billion cubic metres of gas.

ExxonMobil has entered agreements with Azerbaijan and is negotiating a return to Iraq's oilfields, following previous operations in Kurdistan.

From trend.az

Who's involved

  • AzerbaijanHost country managing the Azeri-Chirag-Gunashli (ACG) field
  • ExxonMobilInternational oil company participating in the ACG field
  • InpexInternational oil company participating in the ACG field
  • Parviz ShahbazovMinister of Energy of Azerbaijan overseeing the ACG field

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • InpexSpeculative

    Inpex could see its core business supported by the project's extension and successful production.

  • ExxonMobilSpeculative

    ExxonMobil may secure long-term operational certainty and revenue through the Production Sharing Agreement extension.

Keep exploring

Part of

ExxonMobil has entered agreements with Azerbaijan and is negotiating a return to Iraq's oilfields, following previous operations in Kurdistan. All 3 developments

The entities involved

Related events

Coverage

Newest first; wire copies grouped