5.5 bcm of gas extracted from ACG and Shah Deniz

In January-May 2024, 5.5 billion cubic meters of natural gas were extracted from the Azeri-Chirag-Guneshli field block located in the Azerbaijani sector of the Caspian Sea, Report informs, citing the Energy Ministry of Azerbaijan.

According to the ministry, the production level has not changed since January-April 2023.

In the first five months of 2024, 11.6 billion cubic meters of gas were produced in the Shah Deniz field, which is 0.6 billion cubic meters or 4.45% more than in January-May 2023.

During this period, 8.9 billion cubic meters of gas produced from the Shah Deniz field were transported for export, which is 0.4 billion cubic meters or 4.7% more than in the first five months of 2023.

In total, 221.8 billion cubic meters of gas were extracted from Azeri-Chirag-Guneshli and 220.6 billion cubic meters from Shah Deniz until June 1, 2024, after the Azeri-Chirag-Gunashli and Shah Deniz fields were put into operation. During this period, 157 billion cubic meters of gas produced from the Shah Deniz field were transported for export.

A part of the natural gas produced at the Azeri-Chirag-Guneshli platforms is delivered to the State Oil Company of Azerbaijan to meet the needs of the population, and the rest is pumped back into the collector to maintain the pressure.

ACG is the largest oil field block in Azerbaijan. The first production-sharing agreement for the development of the deposit block was signed on September 20, 1994. On September 14, 2017, a new agreement was signed on the joint exploitation of the fields and the distribution of production. This agreement envisages the development of the fields until the end of 2049.