Total production from ACG averaged 535,000 barrels per day in 2019

In 2019, total production from ACG had averaged 535,000 barrels per day, Report says, citing BP-Azerbaijan.

ACG has also delivered over 45 billion cubic meters of associated gas in total to the Government of Azerbaijan.

The initial ACG Production Sharing Agreement (PSA) was signed on 20 September 1994. Since that time, around $38 billion of investment has been made into the development of the ACG field.

In 2017, the ACG PSA was extended until the end of 2049. First oil was produced from the Chirag field on 7 November 1997.

ACG currently has eight offshore platforms – six production platforms and two process, gas compression, water injection, and utility platforms. The next development project of ACG - the Azeri Central East (ACE) - is currently in the execution phase with the first oil expected in 2023.

The platforms export oil and gas to the Sangachal Terminal, one of the world’s largest oil and gas terminals, onshore near Baku.

ACG produced 584,000 barrels of oil per day in 2019.