BAKU, Azerbaijan, May 17. Hungarian MOL Group’s production from Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea was 12,800 barrels of oil equivalent per day in the first quarter of 2024, as compared to 15,000 barrels of oil equivalent per day in 1Q 2023, Trend reports citing MOL Group.
As such, the company’s daily production dropped by around 14.7 percent year-on-year.
MOL Group also saw a 9.2 percent quarter-on-quarter decrease in ACG output, as it produced 14,100 barrels of oil equivalent per day in 4Q 2023.
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 (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGCVidesh (2.31%).
bp data shows that during the first quarter, ACG continued to safely and reliably deliver stable production. Total ACG production for the quarter was on average about 339,000 barrels per day (b/d) (about 31 million barrels or 4 million tonnes in total) from the Chirag (21,000 b/d), Central Azeri (92,000 b/d), West Azeri (79,000 b/d), East Azeri (53,000 b/d), Deepwater Gunashli (63,000 b/d) and West Chirag (31,000 b/d) platforms.
At the end of the quarter, 139 oil wells were producing, while 43 were used for water and eight for gas injection.
In the first quarter of 2024, ACG completed three oil producer and one water injector wells.
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