At the end of the third quarter, 114 oil wells were producing, while 45 wells were used for gas and water injection.
ACG completed 15 oil producers and 4 water injector wells during the first three quarters of 2017.
In the first three quarters of 2017, ACG delivered an average of about 8.6 million cubic metres per day of ACG associated gas to SOCAR (2.4 billion cubic metres in total), primarily at the Sangachal Terminal but also to SOCAR’s Oil Rocks facility. The remainder of the associated gas produced was re-injected for reservoir pressure maintenance.
ACG participating interests are: BP (35.8 per cent), SOCAR (11.6 per cent), Chevron (11.3 per cent), INPEX (11 per cent), Statoil (8.6 per cent), ExxonMobil (8 per cent), TPAO (6.8 per cent), ITOCHU (4.3 per cent), ONGC Videsh Limited (OVL) (2.7 per cent).
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
On 14 September 2017 the Azerbaijan Government and SOCAR, together with the international co-venturers signed the amended and restated ACG PSA. The contract was ratified by the Parliament (Milli Majlis) of the Republic of Azerbaijan on 31 October.
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