According to the results of the first quarter of 2024, oil production volumes at the Azeri-Chirag-Guneshli offshore block (ACG) decreased by 3.89 million barrels or 525 thousand tons, amounting to 30.85 million barrels (4.17 million tons), the quarterly report of bp-Azerbaijan”, which is the operator of the ACG development.
According to the reporting data, the average daily oil production in January-March of this year at ACG amounted to 339 thousand barrels. Over the same period last year, this figure was 386 thousand barrels. That is, in terms of daily volumes, oil production at ACG decreased by 12.18%.
By the end of 2023, the average daily volume of oil production at ACG was 363 thousand barrels. At the same time, the annual rate of decline was 12.61%.
Table of oil production volumes at ACG (in barrels per day):
|
Platforms |
The beginning of oil production |
I quarter 2024 |
I quarter 2023 |
Changes ( %) |
|
Chirag |
07.11.1997 |
21 000 |
24 100 |
– 12,86% |
|
Western Chirag |
28.01.2014 |
31 000 |
35 000 |
– 11,43% |
|
Eastern Azeri |
22.10.2006 |
53 000 |
64 200 |
– 17,19% |
|
Central Azeri |
13.02.2005 |
92 000 |
100 000 |
– 8,00% |
|
Western Azeri |
30.12.2005 |
79 000 |
93 300 |
– 15,33% |
|
Deep-sea Guneshli |
22.04.2008 |
63 000 |
69 400 |
– 9,22% |
|
Total |
386 000 |
339 000 |
– 12,18% |
|
As can be seen from the Table, in the first quarter, the highest rates of decline in production volumes were recorded on the “Eastern Azeri” platform, where, compared with January-March, average daily volumes decreased by 11.2 thousand barrels. However, in terms of volumes, the “Western Azeri” platform accounted for the highest drop in production – 14.3 thousand barrels. That is, there is a significant decrease in oil recovery from the eastern and western wings of the “Azeri” field.
According to the Ministry of Energy of Azerbaijan, as of April 1, 2024, a total of 588.9 million tons of oil were extracted from offshore blocks of ACG.
Caspian Barrel estimated that 366 million tons accounted for the share of the “Azeri” field – just over 62% of the total ACG production.
Caspian Barrel
