BAKU, Azerbaijan, June 10. The volume of oil production at Azeri-Chirag-Gunashli (ACG) block offshore Azerbaijan stood at 167.01 million barrels in 2021, as compared to the forecasted 171.6 million barrels, Trend reports with reference to the Chamber of Accounts.
Thereby, the production plan for ACG was implemented by 97.33 percent.
The Chamber of Accounts estimates that the volume of production from ACG has dropped by 21.8 percent or 46.5 million barrels in 2021 as compared to 2018 due to the voluntary cuts under the OPEC+ deal, as well as repairs and shutdowns at wells.
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 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).
---
Follow the author on Twitter: @Lyaman_Zeyn