BAKU, Azerbaijan, August 7. The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the Azeri-Chirag-Guneshli (ACG) block of fields amounted to $4.1 billion from January through July 2023, compared to the same period in 2022 ($5.6 billion), Trend reports.
According to the State Oil Fund, ACG income decreased by more than 26.8 percent year on year.
According to BP's first-quarter results report, the overall volume of production at the ACG was around 386,000 barrels per day, compared to 434,000 barrels per day in the first quarter of 2022. As a result, production at ACG fell 11.05 percent year over year.
The latest data from the Ministry of Energy of Azerbaijan show that as of May 1, 2023, gas and oil production from the ACG amounted to 208 billion cubic meters and 6.2 million tons, respectively.
Participation shares in the ACG are as follows: 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), and ONGCVidesh (2.31 percent).
BP Exploration (Caspian Sea) Limited is the operator on behalf of the contractors under the ACG Production Sharing Agreement.