Oil production at ACG to reduce by 76,000 barrels within 2 months


April 30, Fineko/abc.az. The daily production at the Azeri-Chirag-Deepwater Guneshli (ACG) oilfield block will decrease by 76,000 bpd in June and May.

ABC.AZ reports with reference to SOCAR that the Azerbaijan International Operating Company (AIOC), which is the operator of the fields, will be able to increase production by 27,000 bpd, and from next year by 26,000 bpd.

Thus, in 2021 the production on AIOC is projected at the level of 487,000 bpd.

Within the first period other operating companies will cut production by 3,000 bpd, in July-December by 1,000 bpd, and next year by another 1,000 bpd.

As a result of measures within the OPEC+ agreement the crude oil production in Azerbaijan in May-December this year will be reduced by 17.4 million barrels to 141.8 million barrels. In 2021, this figure on the country is projected to reach 30.7 million tons or 226.3 million barrels. These indicators do not include the production of hydrocarbons from the Shah Deniz consortium, which operates the gas condensate fields, and the Umid Babek operating company, as well as condensate from SOCAR’s Azneft and Bahar Energy Management Company.