BAKU, Azerbaijan, September 20. To date, the Azeri-Chirag-Gunashli (ACG) oil and gas fields in the Azerbaijani sector of the Caspian Sea have produced 613 million tons of oil and 239 billion cubic meters of gas, the Ministry of Energy said, Trend reports.
Of the total gas output, 61.3 billion cubic meters have been delivered to Azerbaijan.
In the first eight months of this year, ACG’s average daily oil production amounted to 44,000 tons, while daily oil exports stood at 327,000 barrels.
The current shareholders of ACG are: BP – 30.37% (operator), AzACG (SOCAR) – 31.65%, MOL – 9.57%, Inpex – 9.31%, ExxonMobil – 6.79%, TPAO – 5.73%, Itochu – 3.65%, and ONGC Videsh Ltd. (OVL) – 2.92%.
The original production sharing agreement on ACG was signed on September 20, 1994. It was amended and restated on September 14, 2017, extending the contract until 2050.
In 2019, the final investment decision was taken on the Azeri Central East (ACE) project, with first oil achieved in 2024. To date, ACE has produced 1.4 million tons of oil and 228 million cubic meters of gas.