ACG production falls in Q1 

During the first quarter of 2022, the production in the Azeri-Chirag-Deepwater Gunashli (ACG) block of fields fell by 11.36% compared to a year earlier, Report informs, citing bp Azerbaijan.

Total ACG production for the quarter was on average about 434,000 barrels per day (b/d) (about 39 million barrels or 5 million tonnes in total) from the Chirag (25,000 b/d), Central Azeri (106,000 b/d), West Azeri (112,000 b/d), East Azeri (70,000 b/d), Deepwater Gunashli (79,000 b/d) and West Chirag (42,000 b/d) platforms.

At the end of the quarter, 137 oil wells were produced, while 37 were used for water and eight for gas injection.

In the reporting period, ACG completed three oil producer wells.

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 (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGCVidesh (2.31%).