ACG reduces production in Q1

In the first quarter of 2020, ACG continued to safely and reliably deliver stable production, BP-Azerbaijan told Report.

Total ACG production for the quarter was on average about 524,000 barrels per day (b/d) (about 48 million barrels or more than 6.4 million tonnes in total) from the Chirag (39,000 b/d), Central Azeri (136,000 b/d), West Azeri (125,000 b/d), East Azeri (78,000 b/d), Deepwater Gunashli (95,000 b/d) and West Chirag (51,000 b/d) platforms. The production is 8% less than the previous year.

At the end of the quarter, 129 oil wells were producing, while 42 wells were used for water and seven for gas injection.

In the first quarter of 2020, ACG completed four oil producer wells.

The initial ACG Production Sharing Agreement (PSA) was signed on 20 September 1994. Since that time, around $38 billion of investment has been made into the development of the ACG field. In 2017, the ACG PSA was extended until the end of 2049.

ACG participating interests are: BP (30.37%), SOCAR (25.0%), 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%).

The daily output from the ACG was 535,000 barrels last year.