Oil Production at ACG in the First Half of the Year was Carried out From 137 Wells
Oil production from the Azeri-Chirag-Guneshli (ACG) block in the first half of 2023 was carried out from 137 production wells, Interfax-Azerbaijan was told in the press service of the bp company (operator for the development of the Azeri-Chirag-Guneshli field block, ACG).
“In January-June 2023, three oil producing and four water injection wells were drilled in the contract block. As of the end of June 2023, 137 oil producing, 44 water and 7 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, the total oil production has exceeded 4.3 billion barrels.
As reported, oil production at the Azeri-Chirag-Guneshli (ACG) block of fields in the first half of 2023 amounted to about 68 million barrels (a decline of 11.7%). The average daily oil production at the block in the first half of 2023 amounted to 375,000 barrels.
The contract for the development of the Azeri, Chirag and deepwater Gunashli fields was signed on September 20, 1994 and entered into force on December 12 of the same year. This agreement expires in 2024. However, on September 14, 2017, a new contract for the development of the ACG block, calculated 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%).
