BAKU, Azerbaijan, Feb.19
By Leman Zeynalova – Trend:
Hungarian MOL Group’s capital expenditure on development of Azeri-Chirag-Gunashli block of oil and gas field offshore Azerbaijan stood at $117.2 million in the financial year 2020, Trend reports with reference to the company.
The company capex on ACG development amounted to $34.8 million in Q2, $42.5 million in Q3 and $39.8 million in Q4 2020.
Other expenditures of MOL Group on ACG were equal to $0.8 million in FY 2020, $0.2 million in Q2, $0.3 million in Q3 and $0.3 million in Q4 2020.
Total expenditures of the Hungarian company on Azeri-Chirag-Gunashli stood at $118 million in FY 2020, $35 million in Q2, $42.8 million in Q3 and $40.1 million in Q4 2020.
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (replaced Chevron as of 16 April 2020 (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).
BP data shows that total ACG production for the full year of 2020 was on average about 477,000 barrels per day (b/d) (about 175 million barrels or 23.6 million tonnes in total) from the Chirag (34,900 b/d), Central Azeri (113,200 b/d), West Azeri (118,900 b/d), East Azeri (64,200 b/d), Deepwater Gunashli (95,400 b/d) and West Chirag (50,400 b/d) platforms.
In 2021, the level of production at ACG is forecasted at 487,000 barrels per day.
Follow the author on Twitter: @Lyaman_Zeyn