BAKU, Azerbaijan, June 10
By Leman Zeynalova – Trend:
Norway’s Equinor company, which hold 7.27 percent share in Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea, produced 38,100 barrels of oil equivalent per day (boed) of liquids from the block in the first quarter of 2020, Trend reports referring to Equinor’s data.
This is while in the first quarter of last year the company’s output from ACG equaled to 41,500 boed of liquids.
The volume of production for the remaining quarters of 2019 is as follows: 2Q 2019 - 37,400 boed of liquids; 3Q 2019 - 39,100 boed of liquids and 4Q 2019 - 37,500 boed of liquids.
Equinor produced 41,600 boed of liquids at ACG in 4Q 2018 and 41,800 boed of liquids in 3Q 2018.
Total Azeri-Chirag-Gunashli production for the first quarter of 2020 was on average about 524,000 barrels per day (b/d) (about 48 million barrels or more than 6.4 million tonnes in total), according to BP.
During 2019, total ACG production for the full year was on average about 535,000 barrels per day (b/d) (more than 195 million barrels or 26 million tonnes in total) from the Chirag (41,000 b/d), Central Azeri (134,000 b/d), West Azeri (121,000 b/d), East Azeri (89,000 b/d), Deepwater Gunashli (96,000 b/d) and West Chirag (54,000 b/d) platforms.
In accordance with Azerbaijan’s obligations to reduce oil output under OPEC+ deal, daily production on the Azeri-Chirag-Deepwater Gunashli fields is expected to be reduced by 76,000 barrels in May and June. During the second stage of agreement, the operator of the fields - Azerbaijan International Operating Company (AIOC) - will be able to increase production by 27,000 barrels per day, adding 26,000 barrels per day in the next year. Thus, in 2021, the level of AIOC production is forecasted at 487,000 barrels per day.
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