Insight
ACG contract extension: Azerbaijan's key event to watch
Report summary
An extension is expected for the Azeri Chirag Guneshli PSC, which is due to expire in December 2024. Although production has been in decline since 2010, ACG is still expected to be producing significant volumes at that date. The BP-operated field has been the backbone of Azerbaijan's economy and has fuelled the State Oil Fund of Azerbaijan (SOFAZ). It has also proved an important asset for SOCAR, BP, Chevron, Statoil and INPEX. Maximising production at ACG is vital to both Azerbaijan's economy and to the partners.
Table of contents
- Executive summary
- The importance of ACG
- The need for a contract extension
- What a contract extension would look like
- However, a 48-slot platform does present some issues
- A history of increased government share of profit oil
- What if SOCAR increases its stake?
- What we expect
Tables and charts
This report includes 5 images and tables including:
- Current production profile by platform
- Government share of profit oil for Azerbaijani assets
- ACG contract extension (including a 48-slot platform)
- Development scenario comparisons
- Government share of profit oil for each scenario
What's included
This report contains:
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