Production from ACG decreased by over 3% in 1Q25

In January-March 2025, an average of 331,000 barrels of oil per day, or approximately 30 million barrels in total, which is 4 million tons of oil, was produced from the Azeri-Chirag and Deepwater Gunashli (ACG) block of fields located in the Azerbaijani sector of the Caspian Sea, Report informs, citing BP-Azerbaijan.

During the quarter, 21,000 barrels were produced from the Chirag platform, 87,000 barrels from Central Azeri, 76,000 barrels from West Azeri, 43,000 barrels from East Azeri, 54,000 barrels from Deepwater Gunashli, 25,000 barrels from West Chirag, and 25,000 barrels from the East-Central-Azeri – ACE platform.

The volume of production from ACG is 9,000 barrels or approximately 1 million barrels (3.3%) less than the corresponding period of last year.

On February 18, the ACG project celebrated the 20th anniversary of the first oil obtained from the Central Azeri platform. Since then, a total of 1.1 billion barrels (152 million tons) of oil has been produced from the platform.

At the end of the quarter, a total of 145 oil production wells, 44 water injector wells, and 8 gas injector wells were in operation at ACG.

During the reporting period, 2 oil production wells were drilled at ACG, and one of them was completed. In addition, 1 gas injector well was also drilled.

ACG is Azerbaijan's largest oil field block. The first production sharing agreement for the development of the block of fields was signed on September 20, 1994. On September 14, 2017, a new agreement was signed for the joint operation of these fields and the distribution of production shares. This agreement provides for the development of the fields until the end of 2049.

BP (30.37%), SOCAR (31.65%), MOL (9.57%), INPEX (9.31%), "ExxonMobil" (6.79%), TPAO (5.73%), ITOCHU (3.65%), "ONGC Videsh Limited" (OVL) (2.92%) are shareholders in ACG.