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BP Azerbaijan: Total production from Azeri-Chirag-Gunashli oil fields exceeds 500 million tons

Baku, January 10 - Neftegaz.RU. Azerbaijan’s average daily oil production at the Azeri-Chirag-Guneshli (ACG) block of fields in 2019 amounted to 535,000 barrels, BP-Azerbaijan has reported in its website.

“In 2019, the average daily oil production from the ACG block amounted to 535,000 barrels. On December 26, 2019, the total oil production from this contract area reached 500 million tons. Also, over the entire period since the start of development in November 1997, over 45 billion cubic meters of associated gas were produced in the block, ”the message reads.

It is also noted that the half a billion tonnes of oil produced from ACG since 1997 have been transported primarily via the Baku-Tbilisi-Ceyhan and Western Route Export pipelines from the Sangachal terminal near Baku across Azerbaijan, Georgia and Turkey to the world markets.

Direct revenue of the Azerbaijani government from the ACG block of oil fields exceeds $140 billion. According to the information provided by BP-Azerbaijan, the total investment in the development project of the Azeri-Chirag-Guneshli block amounted to $38 billion.

ACG participating interests are: BP (30.37%), SOCAR (25.0%), Chevron (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).

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