BAKU, Azerbaijan, July 24. In the second quarter of 2024, the average daily equity production from Norway's Equinor company within the Azeri-Chirag-Gunashli (ACG) block offshore Azerbaijan was reported at 24,200 barrels of oil equivalent per day, Trend reports citing the company.
This is a decline from the 26,500 barrels of oil equivalent per day recorded in 2Q 2023, reflecting a year-on-year decrease of 8.7 percent.
Furthermore, Equinor's output from the ACG block also saw a quarter-on-quarter reduction, dropping by more than 2 percent. Specifically, in the second quarter of 2023, the production figure stood at 24,700 barrels of oil equivalent per day.
In late December 2023, Azerbaijan’s state oil company SOCAR acquired Equinor’s shares in Azeri-Chirag-Gunashli, Karabakh fields, and Baku-Tbilisi-Ceyhan project.
Before the acquisition, Equinor held a 7.27% stake in the ACG oil fields, an 8.71% interest in the BTC pipeline, and 50% in the Karabakh field. Previously, SOCAR had a 25% stake in ACG, 25% in BTC, and 50% in the Karabakh field.
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