BAKU, Azerbaijan, Nov.15. 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 12,500 barrels of oil equivalent per day in the third quarter of 2022, as compared to 15,500 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 19.35 percent year-on-year.
MOL Group also saw a quarter-on-quarter decline from 14,800 barrels of oil equivalent per day in Q2 2022 (-15.5 percent).
Total oil output from the Azeri-Chirag-Gunashli (ACG) field amounted to 418,000 barrels per day for the first three quarters of 2022, as compared to 461,000 barrels per day in the same period of 2021. As such, ACG production fell by 9.33 percent year over year.
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).
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