In 2020, the Azerbaijan International Operating Company (AIOC) delivered an average of 6 million cubic meters per day of ACG (Azeri-Chirag-Guneshli) associated gas to SOCAR (2.2 billion cubic meters in total), primarily at the Sangachal terminal but also to SOCAR’s Oil Rocks facility, Report informs.
The rest part of the produced associated gas was re-injected for reservoir pressure maintenance, according to the BP-Azerbaijan.
ACG is the largest block of oil fields in Azerbaijan. The first production sharing agreement for its development was signed on September 20, 1994, while a new deal on the joint exploitation of these fields and production sharing was reached on September 14, 2017. The agreement provides for the development of the fields by the end of 2049.
ACG participating interests are: bp (30.37%), SOCAR (25%), MOL (replaced Chevron as of 16 April 2020 (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).