BAKU, Azerbaijan, Dec. 6
By Khagan Isayev – Trend:
The volume of oil production at the Azeri-Chirag-Gunashli (ACG) block of fields in 2022 is forecasted to decrease, Trend reports on Dec. 6 citing the conclusion of the Accounts Chamber of Azerbaijan on the draft budget of the State Oil Fund of Azerbaijan (SOFAZ) for the next year.
According to the forecast, this indicator will amount to 170.1 million barrels, down by 1.5 million barrels (0.87 percent) compared to the 2021 forecast.
It’s also forecasted that by the end of this year, 171.6 million barrels of oil will be produced.
In the first nine months of 2021, SOFAZ revenues from ACG exceeded $3.9 million.
The equity participation in the ACG project is as follows: BP (operator) - 30.37 percent, AzACG (SOCAR) - 25 percent, Chevron - 9.57 percent, INPEX - 9.31 percent, Equinor - 7.27 percent, ExxonMobil – 6.79 percent, TP - 5.73 percent, ITOCHU - 3.65 percent, ONGC Videsh Limited (OVL) - 2.31 percent.