Baku, Azerbaijan, Nov.21
By Leman Zeynalova - Trend:
Total production from Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea for the nine months was on average 588,000 barrels per day (b/d) (about 161 million barrels or 22 million tons in total), BP Azerbaijan said in its report on Q3 2018.
BP Azerbaijan is the operator of ACG where Azeri Light oil is produced.
“During the first three quarters of 2018, ACG continued to safely and reliably deliver stable production. Total ACG production for the nine months was on average 588,000 barrels per day (b/d) (about 161 million barrels or 22 million tonnes in total) from the Chirag (47,000 b/d), Central Azeri (156,000 b/d), West Azeri (126,000 b/d), East Azeri (97,000 b/d), Deepwater Gunashli (105,000 b/d) and West Chirag (57,000 b/d) platforms,” said the report.
The volume of Azeri Light oil production in Azerbaijan in 2017 stood at 29 million tons, as compared to more than 31.1 million tons in 2016.
“In the first three quarters of 2018, we spent about $367 million in operating expenditure and $825 million in capital expenditure on ACG activities,” said the report.
The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in Baku Sept. 14, 2017.
ACG participating interests are: BP (30.37 percent), SOCAR (25.0 per cent), Chevron (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), ONGC Videsh Limited (OVL) (2.31 percent).
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