Daily average oil production from ACG fields to exceed 900,000 barrels in August
Azerbaijan, Baku, July 24 / Trend, E.Ismayilov /
It's scheduled to produce 910,000 barrels of light oil from Azeri-Chirag-Gunashli (ASG) fields in the Azerbaijani sector of the Caspian Sea in August, a source in oil and gas field said.
BP participants are (operator - 34.1367 percent of share holding), Chevron (10.2814 percent), SOCAR (10 percent), INPEX (10 percent), Statoil (8.5633 percent), ExxonMobil (8.006 percent), TPAO (6.75 percent), Devon Energy (5.6262 percent), Itochu (3.9205 percent), Delta Hess (2.7213 percent).
The agreement on joint development and production sharing on the project "ACG" was signed in September 1994. Duration of the agreement is 30 years. Oil production was increased under the contract progressively by putting into operation new deposits. Production at the field "Chirag" was launched in 1997, at the "Central Azeri" - in early 2005, "Western Azeri" - in early 2006, "East Azeri" - late 2006. Production on the deep part of the deposit Guneshli was launched in April 2008.
Oil from ACG is supplied to the world market via the Baku-Tbilisi-Ceyhan pipeline.