BAKU, Azerbaijan, Nov.17
By Leman Zeynalova – Trend:
Total oil production from Azeri-Chirag-Gunashli (ACG) in the Azerbaijani sector of the Caspian Sea since start in 1994 has reached more than 3.8 billion barrels, Trend reports with reference to BP’s Q3 2020 results in Azerbaijan.
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
Total Azeri-Chirag-Gunashli production for the three quarters of 2020 was on average about 482,000 barrels per day (b/d) (about 132 million barrels or 17.9 million tonnes in total) from the Chirag (36,000 b/d), Central Azeri (115,000 b/d), West Azeri (118,000 b/d), East Azeri (64,000 b/d), Deepwater Gunashli (97,000 b/d) and West Chirag (52,000 b/d) platforms.
ACG participating interests are: BP (30.37 percent), SOCAR (25 percent), MOL (replaced Chevron as of 16 April 2020 (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), ONGC Videsh Limited (OVL) (2.31 percent).
On 20 September 1994, the government of Azerbaijan and a group of international oil companies representing eight countries signed the Azeri-Chirag-Gunashli Production Sharing Agreement, which later became known as the Contract of the Century. The Contract was extended in September 2017 until mid-century.
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