Baku, Azerbaijan, Aug. 1
Trend:
Azerbaijan in the first half of 2018 produced 15 million tons of light oil, which is about one million tons more than the production in the same period last year, reads a BP report on its activity in Azerbaijan for January-June 2018.
BP Azerbaijan operates the development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields, where the Azeri Light oil is produced.
In the first half of 2018, ACG continued to safely and reliably deliver stable production. The total ACG production for the six months was on average 596,000 barrels per day (b/d) (about 108 million barrels or 15 million tons) from the Chirag (49,000 b/d), Central Azeri (158,000 b/d), West Azeri (127,000 b/d), East Azeri (96,000 b/d), Deepwater Gunashli (107,000 b/d) and West Chirag (59,000 b/d) platforms.
As many as 29 million tons of Azeri Light were produced in Azerbaijan in 2017 as compared to 31.1 million tons of oil produced in 2016.
A contract for development of the ACG block of oil and gas fields was signed in 1994. A ceremony to sign a new contract on the ACG development was held in Baku Sept. 14, 2017.
The new ACG participating interests are as follows: BP - 30.37 percent, AzACG (SOCAR) - 25 percent, Chevron - 9.57 percent, INPEX - 9.31 percent, Statoil - 7.27 percent, ExxonMobil - 6.79 percent, TP - 5.73 percent, ITOCHU - 3.65 percent, ONGC Videsh Limited (OVL) - 2.31 percent.
