BAKU, Azerbaijan, November 28. The Azeri-Chirag-Gunashli (ACG) block offshore Azerbaijan recorded an average daily output of 23,000 barrels from the Chirag field in the first half of 2023, Trend reports citing the country's energy ministry.
Since its commissioning in November 1997, Chirag, the pioneering oil-producing field at ACG, has yielded over 104 million tons of oil and approximately 24 billion cubic meters of gas, as stated by the ministry.
Situated 100 kilometers from Baku, ACG represents the largest oil and gas block in the Azerbaijani sector of the Caspian Sea.
The initial estimate of the block's reserves stood at 511 million tons in 1994, coinciding with the signing of the Contract of the Century. Subsequently, this figure was revised upward to 1.072 billion tons.
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%).
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