By Trend

Hungarian MOL Group’s capital expenditure (capex) on development of Azeri-Chirag-Gunashli (ACG) block of oil fields in the Azerbaijani section of the Caspian Sea stood at $38.7 million in the third quarter of 2022, as compared to $37.4 million in the same period in 2021, Trend reports with reference to the company.

As such, the company’s capex on ACG development rose by 3.5 percent year-on-year. Other expenditures of the company on the block equaled to $0.8 million in Q3 2022, as compared to $0.5 million in Q2 2021.

Total oil output from the Azeri-Chirag-Gunashli (ACG) field amounted to 418,000 barrels per day for the first three quarters of 2022, as compared to 461,000 barrels per day in the same period of 2021. As such, ACG production fell by 9.33 percent year over year.

BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.

ACG participating interests are: bp (30.37 percent), SOCAR (25 percent), MOL (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), ONGCVidesh (2.31 percent).