More than 610 million tons of crude oil produced from ACG so far

The Azeri-Chirag-Gunashli (ACG) oil and gas fields located in the Azerbaijani sector of the Caspian Sea have produced 613 million tons of oil so far, APA-Economics reports, citing the Ministry of Energy.

According to the information, 239 billion cubic meters of gas have been produced from ACG to date, of which 61.3 billion cubic meters have been transferred to the Azerbaijani state.

It should be noted that the remaining part of the associated gas produced in ACG is pumped back into the collector in order to maintain pressure.

“In the first 8 months of this year, the average daily oil production from ACG was 44 thousand tons, and daily oil export was 327 thousand barrels,” the report states.

Recall that on September 20, 1994, an agreement was signed on the joint development of ACG and the sharing of oil production.

The share distribution in ACG is as follows: BP – 30.37% (operator), AzACG (SOCAR) – 31.65%, MOL – 9.57%, Inpex – 9.31%, ExxonMobil – 6.79%, TPAO – 5.73%, Itochu – 3.65% and ONGC Videsh Ltd. (OVL) – 2.92%.