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MOL Group discloses production volume at Azeri-Chirag-Gunashli

Oil&Gas Materials 19 April 2021 11:43 (UTC +04:00)
MOL Group discloses production volume at Azeri-Chirag-Gunashli

BAKU, Azerbaijan, Apr.19

By Leman Zeynalova - Trend:

Hungarian MOL Group’s production from Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea was 17,800 barrels of oil equivalent per day as of 2020, Trend reports citing MOL Group.

“In Azerbaijan, the transaction of acquiring a stake in the ACG field and BTC pipeline was closed mid-April 2020. Production entitlement is being received since, although gross production has been curtailed since May 2020 in line with OPEC+ commitments of the Republic of Azerbaijan. The 2020 drilling program was completed, with a total of 13 wells drilled. Schedules for both the Azeri Central East and the Chirag Gas Lift projects were reset due to the pandemic, but both are progressing,” said MOL Group.

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.

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 percent), SOCAR (25 percent), MOL (replaced Chevron as of 16 April 2020 (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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