BAKU, Azerbaijan, Aug.4. 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 $34.4 million in the second quarter of 2023, as compared to $37.2 million in the same period in 2022, Trend reports with reference to the company.
As such, the company’s capex on ACG development dropped by 7.5 percent year-on-year. Other expenditures of the company on the block equaled to $1 million in 2Q2023, as compared to $0.6 million in 2Q2022.
Total ACG production for the first half of 2023 was on average about 375,000 barrels per day (b/d) (about 68 million barrels or 9 million tonnes in total) from the Chirag (23,000 b/d), Central Azeri (98,000 b/d), West Azeri (91,000 b/d), East Azeri (61,000 b/d), Deepwater Gunashli (67,000 b/d) and West Chirag (35,000 b/d) platforms.
At the end of the second quarter, 137 oil wells were producing, while 44 were used for water and seven for gas injection.
In the first half of 2023, ACG completed three oil producer and four water injector 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%), SOCAR (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGCVidesh (2.31%).
---
Follow the author on Twitter: @Lyaman_Zeyn