Oil Production at ACG in 2023 was Carried Out from 136 Wells
Oil production from the Azeri-Chirag-Gunashli (ACG) block in January-September 2023 was carried out from 136 production wells, the press service of the bp company (operator for the development of the Azeri-Chirag-Gunashli, ACG) block of fields told Interfax-Azerbaijan. ).
“In January-September 2023, six oil production, five water injection and one gas injection wells were drilled on the contract block. As of the end of September 2023, 136 oil production, 45 water and 8 gas injection wells were in operation,” the company noted.
According to bp, in general, for the entire period since the beginning of the development of the ACG block, total oil production exceeded 4.3 billion barrels.
As reported, in January-September 2023, about 100 million barrels were produced from the Azeri-Chirag-Gunashli (ACG) block of fields (a decline of 12.3%). Average daily oil production at the block in January-September 2023 amounted to 368 thousand barrels (418 thousand barrels in January-September 2022).
The contract for the development of the Azeri, Chirag and deepwater Gunashli fields was signed on September 20, 1994 and came into force on December 12 of the same year. This agreement expired in 2024. However, on September 14, 2017, a new contract for the development of the ACG block, designed until 2050, was signed in Baku.
Under the new contract, the share of British bp (project operator) is 30.37%, SOCAR (25%), Hungarian MOL (9.57%), American ExxonMobil (6.79%), Indian ONGC Videsh (2.31%), Japanese Inpex Corp. (9.31%) and ITOCHU Oil (3.65%), Norwegian Equinor (7.27%), Turkish TPAO (5.73%).
