7 million tons of oil extracted from ACG field in Q1 of 2019


May 13, Fineko/abc.az. Operating expenditures of Azeri-Chirag-Gunashli (ACG) exceeded $138 million and capital expenditures $279 million in Q1 of 2019.

In April 2019 the next stage of the ACG field development - the Central- Eastern Azeri Project was authorized. The $6 bn project includes the construction of a new offshore platform and facilities.

The platform is designed to produce up to 100,000 bpd of oil and is expected to produce up to 300 million bpd of oil during its lifetime. It is planned that the first production within the project will be achieved in 2023.

Production from ACG for the first quarter amounted to about 52 million barrels or 7 million tons.

During the past quarter 5.2 million cu m of gas and about 500 million cu m of associated gas per day were received from the ACG through the Sangachal terminal, as well as facility Neft Dashlari.

The remaining part of the produced associated gas was re-directed to the collector to maintain pressure.