BAKU, Azerbaijan, May 10. 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 15,400 barrels of oil equivalent per day in the first quarter of 2022, as compared to 20,000 barrels of oil equivalent per day in the same period in 2021, Trend reports citing MOL Group.
As such, the company’s production dropped by around 23 percent year-on-year.
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
During the first quarter of 2022, ACG continued to safely and reliably deliver stable production. Total ACG production for the quarter was on average about 434,000 barrels per day (b/d) (about 39 million barrels or 5 million tonnes in total) from the Chirag (25,000 b/d), Central Azeri (106,000 b/d), West Azeri (112,000 b/d), East Azeri (70,000 b/d), Deepwater Gunashli (79,000 b/d) and West Chirag (42,000 b/d) platforms.
ACG participating interests are: bp (30.37 percent), SOCAR (25 percent), MOL (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), ONGCVidesh (2.31 percent).
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