Last year, the Azeri-Chirag-Gunashli (ACG) oil and gas field block, located in the Azerbaijani sector of the Caspian Sea, sold 2.6 billion cubic meters of oil to SOCAR through the Sangachal terminal, as well as through the facility at Neft Dashlari.

cubic meter of natural gas was transferred, which is 13.3% less compared to the year.

According to the information provided by "APA-Economics" with reference to the report published by BP (the operator of the project) on the results of 2022 on the operations carried out in Azerbaijan, during the reporting period, ACG transferred an average of 7 million barrels per day to SOCAR.

cubic meter of gas was given.

"The rest of the produced gas was re-injected into the collector in order to maintain the pressure," the report says.

According to the report, the total production from ACG last year was "Chirag" (25,200), "Central Azeri" (104,100), "Western Azeri" (106,400), "Eastern Azeri" (64,000), "Deep Sunny". (76,300) and "Western Chirag" (39,400) platforms together - averaged 415,400 barrels per day or a total of about 152 million barrels, i.e. 20 million tons.

In the second quarter of the year, as part of the annual work program of ACG, the preventive work program planned on the East Azeri platform was successfully implemented.

According to the plan, production from the "Shargi Azeri" platform was suspended for about 15 days so that the planned preventive works, inspections and project works could be carried out effectively.

This program was completed in a safe and timely manner to ensure that the platform can continue to operate safely, reliably and without damaging the environment for a long time.

"At the end of the year, a total of 141 oil production wells, 41 water injection wells and 8 gas injection wells were in operation in ACG", the report emphasizes.

It should be noted that a part of the gas produced at ACG is given to SOCAR free of charge.

It should be noted that the distribution of shares in ACG is as follows: BP – 30.37% (orerator), AzACG (SOCAR) – 25.00%, MOL – 9.57%, "Inrex" – 9.31%, "Equinor" (formerly Statoil) – 7.27%, ExxonMobil – 6.79%, TPAO – 5.73%, Itochu – 3.65% and ONGC Videsh Ltd.

(OVL) – 2.31%.

The agreement between the parties was valid for 30 years (it was supposed to expire in 2024).

Nevertheless, on September 14, 2017, the government of Azerbaijan and SOCAR, together with international partner companies, signed an amended and revised agreement on ACG joint development and production sharing.

The new agreement, covering the development of ACG until 2050, will make it possible to significantly increase the bloc's development potential by the middle of the century.