BAKU, Azerbaijan, Jan.9
By Leman Zeynalova - Trend:
In 2019, total production from Azeri-Chirag-Gunashli (ACG) block of fields in the Azerbaijani sector of the Caspian Sea averaged 535,000 barrels per day, Trend reports citing BP.
For comparison, in 2018, total ACG production was on average 584,000 barrels per day.
“ACG currently has eight offshore platforms – six production platforms and two process, gas compression, water injection and utilities platforms. The next development project of ACG - the Azeri Central East (ACE) - is currently in the execute phase with first oil expected in 2023,” said BP.
The platforms export oil and gas to the Sangachal Terminal, one of the world’s largest oil and gas terminals, onshore near Baku, said the company.
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 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.