BAKU, Azerbaijan, August 10. 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 12,300 barrels of oil equivalent per day in the second quarter of 2024, as compared to 13,500 barrels of oil equivalent per day in 2Q 2023, Trend reports citing MOL Group.
As such, the company’s daily production dropped by around 8.9 percent year-on-year.
MOL Group also saw a 3.9 percent quarter-on-quarter decrease in ACG output, as it produced 12,800 barrels of oil equivalent per day in 1Q 2024.
During the first half of 2024, ACG continued to safely and reliably deliver stable production. bp data shows that total ACG production for the first half of 2024 was on average about 336,000 barrels per day (b/d) (about 61 million barrels or 8 million tonnes in total) from the Chirag (22,000 b/d), Central Azeri (96,000 b/d), West Azeri (77,000 b/d), East Azeri (52,000 b/d), Deepwater Gunashli (57,000 b/d), West Chirag (29,000 b/d) and ACE (3,000 b/d) platforms.
At the end of June 2024, 144 oil wells were producing, while 45 were used for water and eight for gas injection.
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%).
Follow the author on X: @Lyaman_Zeyn