Azeri-Chirag-Gunashli output falls below forecasts

Oil&Gas Materials 15 February 2022 12:16 (UTC +04:00)
Azeri-Chirag-Gunashli output falls below forecasts

BAKU, Azerbaijan, Feb.15

By Leman Zeynalova – Trend:

The volume of oil production at Azeri-Chirag-Gunashli block of fields in the Azerbaijani sector of the Caspian Sea stood at 22.5 million tons in 2021, as compared to the forecast volume of 24 million tons, Trend reports with reference to Azerbaijan’s energy ministry.

The block produced 23.6 million tons in 2020. As such, ACG production was 4,5 percent below the 2020 level.

The country produced a total of 34.6 million tons of oil and condensate in 2021, which is 1.044 million tons or 2.9 percent less than the forecasts. This figure is 33,000 tons more as compared to 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 (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).


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