BAKU, Azerbaijan, Nov.10
By Leman Zeynalova - Trend:
Hungarian MOL Group’s capital expenditure (capex) on development of Azeri-Chirag-Gunashli (ACG) block of oil fields in the Azerbaijani section of the Caspian Sea stood at $37.4 million in the third quarter of 2021, as compared to $42.5 million in the same period of 2020, Trend reports with reference to the company.
As such, the company’s capex on ACG dropped by 12 percent year-on-year. Other expenditures of the company on the block equaled to $0.5 million.
This is while in Q1 and Q2 2021 the company’s capex on ACG amounted to $44.1 million and $36.4 million, respectively.
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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