Azerbaijan, Baku, Dec. 18, Trend E. Ismailov /
As of Dec. 16, BP, operator of the development of the Azerbaijani Azeri-Chirag-Guneshli (ACG) fields in the Caspian Sea has exceeded the forecast for oil production this year at 0.4 million tons, BP said on Friday.
According to BP, as of Dec. 16, the ACG produced 42.5 million tons of oil compared to the 42.1 million tons forecasted for this year. Last year, the ACG produced 40.3 million tons of oil.
PSA contract on the project of development of Azerbaijan's offshore Azeri-Chirag-Guneshli fields was signed in September 1994. Validity of the agreement is 30 years. Production at the "Chirag" field began in 1997, the "Central Azeri" - in early 2005, "Western Azeri" - in early 2006, "Eastern Azeri" - late 2006. The production in Deepwater Guneshli started in mid 2008.
ACG participating interests are: BP (operator - 37.43 percent), Chevron (11.27 percent), SOCAR (10 percent), INPEX (10.96 percent), Statoil (8.56 percent), ExxonMobil (8 percent), TPAO (6.75 percent), ITOCHU (4.30 percent), Hess (2.72 percent).