BAKU, Azerbaijan, March 3. Revenues of Azerbaijan’s state oil fund SOFAZ from the Azeri-Chirag-Gunashli (ACG) block of fields from January 1, 2023 to March 1, 2023 stood at $1.324 billion, compared to 1.307 billion in the same period in 2022, Trend reports via SOFAZ.
As such, the Fund’s revenues from ACG grew by 1.3 percent year-on-year.
SOFAZ’s revenues from the block amounted to $9.889 billion as of 2022.
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 percent), SOCAR (25 percent), MOL (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 (2.31 percent).
During 2022, ACG continued to safely and reliably deliver stable production. Total ACG production for the full year was on average about 415,400 barrels per day (b/d) (about 152 million barrels or 20 million tonnes in total) from the Chirag (25,200 b/d), Central Azeri (104,100 b/d), West Azeri (106,400 b/d), East Azeri (64,000 b/d), Deepwater Gunashli (76,300 b/d) and West Chirag (39,400 b/d) platforms.
A total of 570 million tons of oil and 205 billion cubic meters of natural gas have been produced from the of the Azeri-Chirag-Gunashli (ACG) block of fields since its commissioning.
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