During 6 months, 2012 average daily production on the Azeri-Chirag-Guneshli (ACG) totaled 684,000 barrels. The production dropped by 91,700 barrels or 11.8% against the same period last year, reads the semi-annual report of BP-Azerbaijan company (operator of ACG development) released in Baku.
According to the report, from January to June 2012 124.5 million barrels (16.8 million tons) of oil was produced on the contract area. During the same period last year the international consortium produced 140.4 million barrels of oil (19 million tons).
At present the consortium carries out production on ACG using five stationary platforms, which were installed on the sea depth between 120 and 160 meters. During 6 months, 2012 Western Azeri has become the most productive platform. In average 186,000 barrels of oil a day was produced on 13 operation wells.
During 6 months, 2012 827,600 barrels of oil a day was produced within the "Contract of the Century."-0-
Economics
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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