BAKU, Azerbaijan, December 7. Revenues of Azerbaijan’s State Oil Fund SOFAZ from Azeri-Chirag-Gunashli (ACG) block of fields were close to $6.354 billion in the first 11 months of 2023, as compared to $9.161 billion in the same period in 2022, Trend reports via the Fund.
As such, the revenues of SOFAZ from ACG dropped by almost 30.7 percent year-on-year.
The latest data from bp, the project operator, shows that Azeri-Chirag-Gunashli produced on average about 368,000 barrels per day in the third quarter of 2023, as compared to 418,000 barrels per day over the same period of 2022.
As such, the volume of ACG daily production dropped by 11.9 percent year-on-year.
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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