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Azerbaijan gets over 30 bcm of associated gas from ACG block

2 June 2017 12:40 (UTC+04:00)
Azerbaijan gets over 30 bcm of associated gas from ACG block

By Trend

Over the past 12 years, BP gave more than 30 billion cubic meters of associated gas to Azerbaijan from the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields, said Bakhtiyar Aslanbayli, communications, external affairs, strategy & region vice president at BP Azerbaijan, on June 2.

He was addressing the 24th International Caspian Oil & Gas Exhibition and Conference 2017 in Baku.

ACG is a super-giant field located about 100 km east of Baku. It is the biggest producing oil field in the Caspian Sea and covers an area of more than 432 square kilometers. The field lies in water depths of between 120 and 170 metres. The depth of the reservoir is 2,000-3,500 metres.

A contract for developing the ACG field was signed in 1994. The proven oil reserve of the block nears 1 billion tons.

The shareholders of the project are BP (operator, 35.78 percent), Chevron (11.27 percent), Inpex (10.96 percent), AzACG (11.65 percent), Statoil (8.55 percent), Exxon (8 percent), TPAO (6.75 percent), Itocu (4.3 percent) and ONGC (2.72 percent).

In December , 2016, Azerbaijan’s state oil company SOCAR and BP-operated Azerbaijan International Operating Company (AIOC) signed an agreement on future development of the ACG field. The agreement will cover the development of the field until 2050 and will add significant resource development potential.

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