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MOL Group’s capex on dev’t of Azeri-Chirag-Gunashli down

Oil&Gas Materials 10 May 2022 15:35 (UTC +04:00)
MOL Group’s capex on dev’t of Azeri-Chirag-Gunashli down
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, May 10. 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 first quarter of 2022, as compared to $44.1 million in the same period in 2021, Trend reports with reference to the company.

As such, the company’s capex on ACG development dropped by 15.2 percent year-on-year. Other expenditures of the company on the block equaled to $0.5 million in the first three months of 2022, as compared to $0.2 million in Q1 2021.

In Q1 2022 the company’s total expenditures on ACG equaled to $37.9 million, versus $44.3 million in the same period in 2021, showing a 14.4 percent decrease 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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