Number of oil producer wells increases at ACG

Oil&Gas Materials 13 May 2019 18:38 (UTC +04:00)

Baku, Azerbaijan, May 13

By Sara Israfilbayova - Trend:

In January-March 2019, four oil producer wells were drilled at the Azeri-Chirag-Guneshli (ACG) block of Azerbaijan's offshore oil fields, Trend reports referring to the BP report on the 1Q2019 results.

At the end of the first quarter, 119 wells were producing oil, while 42 wells were used for water and 7 for gas injection, the report said.

According to the State Statistical Committee of Azerbaijan, in January-March 2019, over 9.7 million tons of oil were produced in Azerbaijan, which is equal to the amount in the same period last year.

The main volume of oil production in Azerbaijan falls on the ACG.

BP is the operator for development of Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea. Associated gas is delivered to SOCAR within this project free of charge.

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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