$1.2 bn invested in Contract of Century since early 2017

20.11.2017,16:41


November 20, Fineko/abc.az. Over 160 million barrels (22 million tons) of oil was produced from oilfield block Azeri-Chirag-Gunashli (ACG) for the past 10 monhs of the year

The oilfield block operator BP-Azerbaijan reports that during the reporting period the daily average oil production from platforms Chirag (52 000 barrels), Central Azeri (133 000 barrels), Western Azeri (120 000 barrels), East Azeri (80 000 barrels), Deep Water Guneshli (119 000 barrels) and West Chirag (81 000 barrels) amounted to 585,000 barrels.

By the end of 3rd quarter 114 oil, 45 gas and water injection wells were operated. It was drilled 15 oil and 4 water wells.

"Within the past three quarters of 2017 the ACG project was invested more than $339 million of operating and approximately $890 million of capital expenditures," BP said.

The agreement on joint development & sharing production from ACG oilfield block (Contract of the Century) was signed in Baku on 20 September 1994. On 14 September 2017, a new agreement on joint development and sharing production was signed. Under the new agreement, equity participation of BP made up 30.37%, AzACG (SOCAR) – 25.00%, Chevron – 9.57%, Inpex – 9.31%, Statoil – 7.27%, ExxonMobil - 6.79%, TP - 5.73%, Itochu – 3.65% and ONGC VideshLtd. (OVL) - 2.31%.

 

Ключевые слова: Contract of Century BP-Azerbaijan ACG