AIOC retains volume of associated gas supplied to SOCAR

According to the Azerbaijan State Oil Company (SOCAR), Azerbaijan International Operating Company (AIOC) supplied an average of 8 million cubic meters per day of associated gas from the Azeri-Chirag-Gunashli (ACG) field block located in the Azerbaijani sector of the Caspian Sea through the Sangachal terminal and the SOCAR’s Oil Rocks facility in the first three quarters of 2022, Report informs.

BP-Azerbaijan says that 2.2 billion cubic meters of associated gas were supplied to SOCAR during the reporting period.

The volume of associated gas supplied to SOCAR in January-September 2022 is the same compared to the same period last year.

The remainder of the associated gas produced was re-injected for reservoir pressure maintenance.

The agreement on the joint development of the ACG field block and the distribution of produced oil in shares (PSA) was signed on September 20, 1994. AIOC was established in February 1995.

On September 14, 2017, a new agreement was signed on the joint exploitation of those fields and production distribution. This agreement envisages the development of the fields until the end of 2049.