BAKU, Azerbaijan, August 9. 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 13,500 barrels of oil equivalent per day in the second quarter of 2023, as compared to 14,800 barrels of oil equivalent per day in 2Q2022, Trend reports citing MOL Group.
As such, the company’s production dropped by around 8.8 percent year-on-year.
"Average daily entitlement production of H1 2023 was 14,300 boepd, whereas it amounted to 15,100 boepd for the same period in 2022. This 6 percent decrease is attributable to lower entitlement share (due to higher oil price), baseline decline and some unplanned production deferrals on the field," said MOL Group.
The company reported that drilling program activities are in progress, with 8 new wells delivered in H1 2023.
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