In January–March of this year, approximately 0.9 billion cubic meters of associated gas were delivered from the Azeri-Chirag-Gunashli (ACG) oil and gas fields block to the Azerbaijani state, primarily to SOCAR, via the Sangachal terminal and the platform at Neft Dashlari which represents a 28.6% increase in an annual comparison, APA-Economics reports citing BP's report devoted to the results of the first quarter of the current year on its operations in Azerbaijan.
The document states that during the reporting period, an average of 11 million cubic meters of gas per day was supplied from ACG to SOCAR.
"The remaining portion of the produced associated gas was reinjected into the reservoir to maintain pressure," the report noted.
Note that a portion of the associated gas produced at ACG is provided to SOCAR free of charge.
To recall, the share distribution in ACG is as follows: BP – 30.37% (operator), AzACG (SOCAR) – 25.00%, MOL – 9.57%, Inpex – 9.31%, Equinor (formerly Statoil) – 7.27%, ExxonMobil – 6.79%, TPAO – 5.73%, Itochu – 3.65%, and ONGC Videsh Ltd. (OVL) – 2.31%. The agreement between the parties was initially valid for 30 years (set to expire in 2024). However, on September 14, 2017, the Government of Azerbaijan and SOCAR, together with international partner companies, signed the amended and restated agreement on the joint development and production sharing of ACG. This new agreement, which extends development through 2050, is expected to significantly enhance the production potential of the block into the middle of the century.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on Facebook
Follow us on Twitter
