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  4. ACG achieves 600 millionth tonne production milestone

ACG achieves 600 millionth tonne production milestone

Release date:
13 December 2024

 

  • Remarkable milestone achieved in ACG’s 30th anniversary year;
  • Another proud chapter in the field’s success story built on extraordinary partnership

 

bp, as the operator of the Azeri-Chirag-Gunashli (ACG) oil field, is proud to announce, on behalf of the co-venturers in the ACG project – SOCAR, MOL, INPEX, ExxonMobil, TPAO, ITOCHU and ONGC Videsh – that the field has now achieved 600 million tonnes of total oil production.


The 600 million tonnes of oil have been transported to global markets primarily via the Baku-Tbilisi-Ceyhan (BTC) and Western Route Export pipelines from the Sangachal terminal near Baku, across Azerbaijan, Georgia, and Türkiye.

 

Rovshan Najaf, President of SOCAR, said:

 

“The attainment of 600 million tonnes of oil production from the Azeri-Chirag-Gunashli field is a monumental achievement that underscores the enduring success of Azerbaijan's energy sector. This milestone is a testament to the visionary leadership of National Leader Heydar Aliyev. The strategic foresight of the founder of modern Azerbaijan led to the signing of the “Contract of the Century” in 1994, establishing the foundation for our nation’s energy independence and economic prosperity. As we celebrate ACG's 30th anniversary, SOCAR remains dedicated in its commitment to advancing this legacy, delivering value, while achieving innovation and sustainability in the energy sector”.

 

Gary Jones, bp regional president for Azerbaijan, Georgia, and Türkiye, said:

 

“This is yet another historic milestone achieved by ACG on its 30th anniversary. We are proud that 600 million tonnes of total oil production is the outcome of safe, reliable, and environmentally sound operations. This achievement is a testament to ACG’s extraordinary contribution to the country and to all its stakeholders. It also reflects the unwavering dedication of thousands of people, primarily Azerbaijani nationals, to whom ACG owes its success. I want to thank all ACG staff, especially the operations teams, for their exceptional performance and commitment to safety and operational excellence.


“bp’s strategy is to invest in the energy system of today – such as in the development of ACG – as well as the energy system of the future. As operator, we remain committed to working closely with the government and SOCAR to ensure ACG continues to deliver benefits for Azerbaijan, its people and our co-venturers for decades to come.”

 

Key facts about ACG

  • The ACG Production Sharing Agreement (PSA) was initially signed on 20 September 1994. Since that time, around $45 billion of investment has been made in the development of the ACG field.
  • On 14 September 2017, an amended and restated ACG PSA was signed, which extended the term of the PSA until 2049.
  • First ACG oil was produced from the Chirag field on 7 November 1997.
  • To date the ACG field has produced over 4.4 billion barrels of oil. With future continual major investments in new technologies and facilities, and other efforts to maximise field recovery, the field is expected to continue to produce as a world-class reservoir for many decades.
  • To date, ACG has also delivered over 57 billion cubic metres of associated gas in total to the state of Azerbaijan.
  • ACG currently has nine offshore platforms – seven production platforms and two process, gas compression, water injection and utilities platforms. The platforms export oil and associated gas to the Sangachal onshore terminal near Baku, which is one of the world’s largest oil and gas terminals.
  • The latest ACG production platform is ACE which started up oil production in April 2024 as technologically and digitally the most advanced bp-operated platform in the world. Its innovative engineering allows automation of labour-intensive processes, enabling safer and more efficient operations. ACE is currently producing around 26,000 barrels of oil per day from three wells. 
  • In September 2024, we announced the signing of a non-associated natural gas (NAG) related addendum to the existing ACG PSA enabling the parties to progress the exploration, appraisal, development of and production from the NAG reservoirs of the ACG field. In accordance with the addendum, SOCAR and ACG co-venturers are currently working to plan the next steps for the development of NAG reservoirs. As part of this, an initial well is being drilled to produce gas from two priority reservoirs. The well is important as it will deliver appraisal through production which is expected to underpin future development plans for NAG.

 

Photos available. For more information about ACG’s success story please visit bp Azerbaijan website at    www.bp.com/azerbaijan.

 

Further information:

 

Tamam Bayatly at bp’s press office in Baku 

Telephone: (+994 12) 525 58 95