BAKU, Azerbaijan, February 21. 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 12,700 barrels of oil equivalent per day in the fiscal year of 2024, as compared to 13,900 barrels of oil equivalent per day in FY 2023, Trend reports citing MOL Group.
As such, the company’s daily production dropped by around 8.6 percent year-on-year.
MOL Group also saw a 4.6 percent quarter-on-quarter decrease in ACG output, as it produced 12,500 barrels of oil equivalent per day in 4Q 2024, as compared to 13,100 barrels of oil equivalent per day in 3Q 2024.
Total ACG production for the full year was on average about 342,000 barrels per day (b/d) (about 125 million barrels or 16 million tonnes in total) from the Chirag (23,000 b/d), Central Azeri (97,000 b/d), West Azeri (75,000 b/d), East Azeri (51,000 b/d), Deepwater Gunashli (57,000 b/d), West Chirag (29,000 b/d) and ACE (10,000 b/d) platforms.
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 (31.65%), MOL (9.57%), INPEX (9.31%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh (2.92%).
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