Baku, Azerbaijan, Feb.13
By Leman Zeynalova – Trend:
Azeri-Chirag-Guneshli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea has reduced the associated gas deliveries to Azerbaijan’s state oil company SOCAR in 2018, Trend reports citing BP Azerbaijan report on Business Update, 2018 full year results.
“In 2018, ACG delivered an average of about 6.4 million cubic metres per day of ACG associated gas to SOCAR (2.3 billion cubic metres in total), primarily at the Sangachal Terminal but also to SOCAR’s Oil Rocks facility. The remainder of the associated gas produced was re-injected for reservoir pressure maintenance,” reads the report.
This is while In 2017, ACG delivered an average of about 7.9 million cubic metres per day of ACG associated gas to SOCAR (2.9 billion cubic metres in total), primarily at the Sangachal Terminal but also to SOCAR’s Oil Rocks facility.
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.
The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.
---
Follow the author on Twitter: @Lyaman_Zeyn