BAKU, Azerbaijan, July 5. Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from Azeri-Chirag-Gunashli (ACG) block of fields stood at $3.3 billion in the first half of 2023, as compared to $4.8 billion in the same period in 2022, Trend reports.
According to SOFAZ, this figure dropped by over 31.2 percent year-on-year.
Besides, according to bp's report, total Azeri-Chirag-Gunashli production for the first quarter of 2023 on average amounted to 386,000 barrels per day, as compared to 434,000 barrels per day in the same period last year. Thus, ACG’s output fell by 11.05 percent year-on-year.
The latest data from Azerbaijan’s Energy Ministry showed that as of May 1, 2023, gas production from ACG amounted to 208 billion cubic meters, while production of oil stood at 6.2 million tons.
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).
bp Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.