BAKU, Azerbaijan, November 10. 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 12,800 barrels of oil equivalent per day in the third quarter of 2023, as compared to 12,500 barrels of oil equivalent per day in 3Q2022, Trend reports citing MOL Group.
As such, the company’s daily production rose by around 2.8 percent year-on-year.
This is while MOL Group saw a 5.2 percent quarter-on-quarter decrease in ACG output, as it produced 13,500 barrels of oil equivalent per day in 2Q 2023.
Overall, the company produced 41,300 barrels of oil equivalent per day from the block in the first nine months of 2023, as compared to 42,700 barrels of oil equivalent per day in the same period in 2022, showing a 3.3 percent decline.
bp data reveals that ACG has achieved a remarkable milestone by producing over 4.3 billion barrels of oil since its inception in November 1997 until the conclusion of the third quarter in 2023.
During the third quarter of 2023, ACG continued to safely and reliably deliver stable production. Total ACG production for the first three quarters was on average about 368,000 barrels per day (b/d) (about 100 million barrels or 14 million tonnes in total) from the Chirag (23,000 b/d), Central Azeri (96,000 b/d), West Azeri (89,000 b/d), East Azeri (59,000 b/d), Deepwater Gunashli (67,000 b/d) and West Chirag (34,000 b/d) platforms.
At the end of the third quarter, 136 oil wells were producing, while 45 were used for water and eight for gas injection.
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%).
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
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