MOL Group discloses production volume at Azeri-Chirag-Gunashli

Oil&Gas Materials 10 November 2021 14:29 (UTC +04:00)

BAKU, Azerbaijan, Nov.10

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 15,500 barrels of oil equivalent per day in the third quarter of 2021, as compared to 29,800 barrels of oil equivalent per day in the same period in 2020, Trend reports citing MOL Group.

As such, the company’s production dropped by around 48 percent year-on-year.

The company produced 20,000 barrels of oil equivalent per day in the first quarter of 2021. Its production for 2020 financial year stood at 17,800 barrels of oil equivalent per day.

During the third quarter, ACG continued to safely and reliably deliver stable production. Total ACG production for the first three quarters was on average about 461,000 barrels per day (b/d) (about 126 million barrels or 17 million tonnes in total) from the Chirag (29,000 b/d), Central Azeri (109,000 b/d), West Azeri (115,000 b/d), East Azeri (77,000 b/d), Deepwater Gunashli (87,000 b/d) and West Chirag (44,000 b/d) platforms,” said the company.

On 18 September 2021, the ACG field reached 4 billion barrels of total oil production since start.

ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).

BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.


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