BAKU: The volume of gas delivered by Azeri-Chirag-Guneshli (ACG) to the state of Azerbaijan has seen a significant increase of 20% in the first three quarters of 2024. ACG delivered an average of around 6.5 million cubic metres per day of ACG-associated gas, totaling 1.8 billion cubic metres. The primary delivery points were the Sangachal terminal and SOCAR’s Oil Rocks facility. The remainder of the associated gas produced was re-injected for reservoir pressure maintenance.
According to Azeri-Press News Agency, the distribution of shares in ACG is as follows: BP holds a 30.37% share and is the operator, AzACG (SOCAR) holds 25.00%, MOL holds 9.57%, Inpex holds 9.31%, Equinor (formerly Statoil) holds 7.27%, ExxonMobil holds 6.79%, TPAO holds 5.73%, Itochu holds 3.65%, and ONGC Videsh Ltd. (OVL) holds 2.31%. Originally, the agreement between these parties was set to expire in 2024. However, on September 14, 2017, an amended and revised agreement was signed by the government of Azerbaijan, SOCAR, and internation
al partner companies. This new agreement extends the development and production sharing of ACG until 2050, aiming to significantly enhance the bloc’s development potential by the mid-21st century.