ACG oil output remains stable at 59 million barrels

Oil production at Azerbaijan's Azeri-Chirag-Gunashli (ACG) field block amounted to around 59 million barrels in the first half of 2026, according to BP Azerbaijan's operational report for January-June 2026.

Report informs that the production volume was almost unchanged compared with the same period in 2025, when ACG also produced about 59 million barrels of oil.

However, average daily production declined by 1.2%, from 327,000 to 323,000 barrels per day.

Average daily output at the Chirag platform stood at 19,300 barrels, compared with 21,000 barrels a year earlier. Central Azeri production increased to 88,000 barrels from 86,000, while West Azeri output decreased to 73,300 barrels from 75,000.

East Azeri production rose to 45,000 barrels from 42,000, Deepwater Gunashli output fell to 47,000 barrels from 54,000, West Chirag remained unchanged at 24,000 barrels, and Central East Azeri production increased to 26,400 barrels from 25,000 barrels per day.

Project spending in the first half of 2026 totaled $1.001 billion, up about 22.7% compared with the same period last year. Operating expenses increased by 3.5% to $268 million, while capital expenditures rose by 31.6% to $733 million.

During the reporting period, seven oil production wells, three water injection wells and two gas injection wells were drilled and completed at ACG. As of the end of June, the block had 150 oil production wells, 51 water injection wells and 11 gas injection wells in operation.

ACG is Azerbaijan's largest oil field block. The first production sharing agreement for its development was signed on September 20, 1994. The updated agreement signed on September 14, 2017, extends development of the block until the end of 2049.

The project shares are distributed as follows: SOCAR holds 35.3%, BP plc, the operator, 30.37%, Hungary's MOL 9.57%, Japan's Inpex Corporation 9.31%, US-based ExxonMobil 6.79%, Türkiye's TPAO 5.73%, and India's ONGC Videsh 2.925%.