BAKU, Azerbaijan, August 10. Hungarian MOL Group’s capital expenditure (capex) on development of Azeri-Chirag-Gunashli (ACG) block of oil fields in the Azerbaijani section of the Caspian Sea stood at $32.5 million in the second quarter of 2024, as compared to $34.4 million in the same period in 2023, Trend reports with reference to the company.
As such, the company’s capex on ACG development dropped by 5.5 percent year-on-year.
Other expenditures of the company on the block equaled to $0.7 million in 2Q2024, as compared to $1 million in 2Q2023.
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%).
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