BAKU, Azerbaijan, October 27. In the third quarter of 2023, the average daily equity production from Norway's Equinor company within the Azeri-Chirag-Gunashli (ACG) block offshore Azerbaijan was reported at 25,700 barrels of oil equivalent per day, Trend reports citing the company.
This is a decline from the 29,500 barrels of oil equivalent per day recorded in 3Q 2022, reflecting a year-on-year decrease of 12.9 percent.
Furthermore, Equinor's output from the ACG block also saw a quarter-on-quarter reduction, dropping by more than 3 percent. Specifically, in the second quarter of 2023, the production figure stood at 26,500 barrels of oil equivalent per day.
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), ONGC Videsh (2.31 percent).
ACG has recorded gas production of 9.6 billion cubic meters from January through September 2023.
In comparison, during the same period in 2022, the block produced 10 billion cubic meters, reflecting a 4 percent year-on-year decrease in production.
The cumulative gas output from the block since the commencement of development until October 1, 2023, reached a total of 213 billion cubic meters.
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