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Oil production at Azeri-Chirag-Guneshli decreased by 1 mln tons in six months

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Oil production at the Azeri-Chirag-Guneshli (ACG) offshore field block in the first half of 2022 amounted to 76.74 million barrels ( a little more than 10 million tons),  the report of the project operator BP-Azerbaijan  on the results of the first half of 2022.

In January-June 2021, about 85 million barrels of oil (11 million tons) were produced from the ACG block. Thus, oil production from this contract area in January-March 2022 in barrels decreased by 9.4% or almost 1 million tons.

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Oil production at ACG has been declining since September 2010. However, such a high rate of decline in raw material production has not yet been recorded.

Average daily oil production at the ACG block (thousand barrels):

Platforms Production in the  first half of the 2022 Production in the  first half of the 2021
Chirag 25 30
Western Chirag 42 43
Eastern Azeri 62 78
Central Azeri 108 111
Western Azeri 109 118
Deepwater Guneshli 78 88
Total 424 468

Production at the “Chirag” field began in 1997, at the “Azeri” field – at the end of 2005, at the deep-water part of “Guneshli” – in 2008.

Peak oil production at the ACG block was recorded in 2010 – 40.6 million tons. This year, production volumes at ACG may fall below 20 million tons. The shareholders of the ACG project are: BP (30.37%), SOCAR (25.0%), MOL (9.57%), INPEKS (9.31%), Equinor (7.27%), ExxonMobil (6.79%) %), TPAO (5.73%), ITOÇU (3.65%), ONGCVidesh (2.31%).

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