BAKU, Azerbaijan, Feb.19
By Leman Zeynalova – Trend:
Hungarian MOL Group’s net entitlement production from Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea was 25,000 boepd in Q4 2020, Trend reports citing MOL Group.
Gross production of ACG averaged at 462,000 bpd in Q4 2020, in compliance with the production ceiling for October-December, said the MOL Group.
As part of the OPEC+ curtailment agreement, the Republic of Azerbaijan has taken a commitment to decrease its oil production for the period between May 2020 and April 2022.
BP data shows that total ACG production for the full year of 2020 was on average about 477,000 barrels per day (b/d) (about 175 million barrels or 23.6 million tonnes in total) from the Chirag (34,900 b/d), Central Azeri (113,200 b/d), West Azeri (118,900 b/d), East Azeri (64,200 b/d), Deepwater Gunashli (95,400 b/d) and West Chirag (50,400 b/d) platforms.
In 2021, the level of production at ACG is forecasted at 487,000 barrels per day.
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (replaced Chevron as of 16 April 2020 (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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