Baku 13° C
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Oil production at the Azeri-Chirag-Gunashli (ACG) block of fields in January-September 2024 amounted to approximately 93 million barrels (13 million tons), Report informs referring to the project operator - BP Exploration (Caspian Sea) Limited.
In January-September 2023, a total of 100 million barrels of oil (14 million tons) was produced from this contract area.
Thus, the indicator decreased by 7% in barrels and by 7.15% in tons. Average daily oil production in January-September 2024 was 339,000 barrels (compared to 368,000 barrels a year earlier).
The Chirag platform produced an average of 23,000 barrels of oil per day (23,000 b/d), Central Azeri produced 96,500 b/d (96,000 b/d), West Azeri produced 75,500 b/d (89,000 b/d), East Azeri produced 51,000 b/d (59,000 b/d), Deep Water Gunashli produced 57,400 b/d (67,000 b/d), West Chirag produced 29,100 b/d (34,000 b/d), and Central East Azeri produced 6,500 b/d. Project costs for ACG development decreased by 7.1% to $1.37 billion. This includes operating expenses of $402 million and capital expenses of $968 million.
According to the company, during January-September 2024, 11 oil production wells, two water injection wells, and one drill cuttings re-injection well were drilled in the contract area. As of the end of September 2024, 147 oil production wells, 47 water injection wells, and 8 gas injection wells were in operation.
The contract for the development of the Azeri, Chirag, and deepwater Gunashli fields was signed in 1994. Its term was set to expire in 2024, but in September 2017, a new contract was signed, extending until 2050. Currently, BP plc holds 30.37% of the project, Azerbaijan's State Oil Company (SOCAR) - 25%, MOL - 9.57%, ExxonMobil - 6.79%, ONGC Videsh - 2.31%, Inpex Corp. - 9.31%, ITOCHU Oil - 3.65%, Equinor - 7.27%, and TPAO - 5.73%.
