<h1>Azeri-Chirag-Gunashli Oil and Gas Project,Azerbaijan</h1>

<p>Azeri-Chirag-Gunashli (ACG) is an operating offshore oil and gas project in the Azerbaijan sector of the Caspian Sea. The project is operated by BP Exploration (Caspian Sea) Limited under a production sharing agreement. It is a conventional oil and gas development covering the Azeri,Chirag,and deepwater Gunashli fields. ACG was discovered in 1979 and entered production in 1985,with the modern development phase beginning in 1997 after the production sharing agreement framework was established. The project is the largest offshore oil development in Azerbaijan and includes multiple platforms,most recently the Azeri Central East platform which started production in April 2024.</p>

<h2>Quick Facts</h2>

<table>
<colgroup><col/><col/></colgroup>
<tbody>
<tr><th>Item</th><th>Details</th></tr>
<tr><td>Project Name</td><td>Azeri-Chirag-Gunashli Oil and Gas Project,Azerbaijan</td></tr>
<tr><td>Country</td><td>Azerbaijan</td></tr>
<tr><td>Fuel Type</td><td>Oil and gas</td></tr>
<tr><td>Production Type</td><td>Conventional</td></tr>
<tr><td>Status</td><td>Operating</td></tr>
<tr><td>Status Year</td><td>2025</td></tr>
<tr><td>Operator</td><td>BP Exploration (Caspian Sea) Limited</td></tr>
<tr><td>Owner(s)</td><td>BP (30.4%),SOCAR (25%),MOL (9.6%),INPEX (9.3%),others (25.7%)</td></tr>
<tr><td>Discovery Year</td><td>1979</td></tr>
<tr><td>Production Start Year</td><td>1985</td></tr>
<tr><td>Onshore/Offshore</td><td>Offshore</td></tr>
<tr><td>Basin</td><td>Caspian</td></tr>
</tbody>
</table>

<h2>Location and Basin</h2>

<p>ACG is located offshore Azerbaijan in the Caspian Sea,about 120 km offshore in water depths around 120 meters. The Caspian basin creates a distinct offshore operating environment requiring fixed platforms,subsea infrastructure,and marine logistics. The project’s position makes it central to Azerbaijan’s offshore hydrocarbon province and linked to export routes including the Baku-Tbilisi-Ceyhan pipeline.</p>

<h2>Operator and Ownership</h2>

<p>ACG is operated by BP Exploration (Caspian Sea) Limited. Owners include BP (30.4%),the State Oil Company of Azerbaijan Republic (SOCAR,25%),MOL Group (9.6%),INPEX Corporation (9.3%),and other partners. The production sharing agreement has been extended to 2049,supporting long-term development. The consortium has changed over time; earlier partners such as Chevron,Equinor,Hess,and Devon have divested interests.</p>

<h2>Development History</h2>

<table>
<colgroup><col/><col/><col/></colgroup>
<tbody>
<tr><th>Milestone</th><th>Year / Date</th><th>Details</th></tr>
<tr><td>Discovery</td><td>1979</td><td>The ACG field complex was discovered during the Soviet-era offshore exploration period.</td></tr>
<tr><td>Early production</td><td>1985</td><td>Initial production from the field began.</td></tr>
<tr><td>Modern PSA framework</td><td>1994</td><td>The production sharing agreement created the framework for phased international development.</td></tr>
<tr><td>First modern production</td><td>1997</td><td>Commercial production under the PSA commenced.</td></tr>
<tr><td>Platform startups</td><td>2005–2014</td><td>Central Azeri (Feb 2005),West Azeri (Dec 2005),East Azeri (Oct 2006),Deepwater Gunashli (Apr 2008),West Chirag (Jan 2014).</td></tr>
<tr><td>Azeri Central East FID</td><td>April 2019</td><td>Final investment decision for the Azeri Central East (ACE) platform.</td></tr>
<tr><td>ACE production start</td><td>April 2024</td><td>First oil from the ACE platform,the seventh platform installed in the ACG field.</td></tr>
</tbody>
</table>

<h2>Production and Reserves</h2>

<p>As of April 2024,ACG had produced more than 4.3 billion barrels of oil since 1997. Production capacity is about 350,000 barrels per day. In the first half of 2025,production averaged approximately 327,000 barrels per day,down from about 61 million barrels in the same period a year earlier. The Azeri Central East platform is designed to process up to 100,000 barrels per day and is expected to produce up to 300 million barrels over its lifetime. Reserves figures vary by source; cumulative production data should be distinguished from current remaining reserves and platform design capacity.</p>

<h2>Recent Developments</h2>

<p>The Azeri Central East platform started oil production in April 2024,after drilling began in December 2023. The $6 billion platform is part of efforts to slow production decline from the mature field. In July 2024,ONGC Videsh agreed to acquire an additional interest from Equinor in ACG and the Baku-Tbilisi-Ceyhan pipeline.</p>

<h2>Related Topics</h2>

<ul>
<li>Azerbaijan offshore oil production</li>
<li>Azeri-Chirag-Gunashli field complex</li>
<li>BP Exploration (Caspian Sea) operations</li>
<li>SOCAR upstream participation</li>
<li>Azeri Central East platform</li>
<li>Caspian Sea offshore platforms</li>
<li>Baku-Tbilisi-Ceyhan pipeline</li>
<li>Production sharing agreements in Azerbaijan</li>
<li>Offshore brownfield redevelopment</li>
<li>Mature-field decline management</li>
</ul>

<h2>Sources</h2>

<ul>
<li><p><a href="https://www.gem.wiki/Azeri-Chirag-Gunashli_Oil_and_Gas_Project_%28Azerbaijan%29" rel="nofollow noopener" target="_blank">Global Energy Monitor: Azeri-Chirag-Gunashli Oil and Gas Project (Azerbaijan)</a></p></li>
<li><p><a href="https://www.bp.com/en_az/azerbaijan/home/who-we-are/operationsprojects/acg2.html" rel="nofollow noopener" target="_blank">BP Azerbaijan: Azeri-Chirag-Deepwater Gunashli</a></p></li>
<li><p><a href="https://www.inpex.com/english/business/project/acg.html" rel="nofollow noopener" target="_blank">INPEX: ACG Oil Fields</a></p></li>
<li><p><a href="https://www.reuters.com/markets/commodities/bp-starts-oil-production-new-offshore-platform-azerbaijan-2024-04-16/" rel="nofollow noopener" target="_blank">Reuters: BP starts oil production at new offshore platform in Azerbaijan</a></p></li>
<li><p><a href="https://www.reuters.com/business/energy/bp-starts-drilling-oil-production-well-new-platform-azeri-chirag-gunashli-2023-12-05/" rel="nofollow noopener" target="_blank">Reuters: BP starts drilling oil production well at new ACG platform</a></p></li>
<li><p><a href="https://www.reuters.com/business/energy/india-ongc-pay-equinor-60-mln-stake-caspian-sea-oil-assets-2024-07-19/" rel="nofollow noopener" target="_blank">Reuters: ONGC Videsh to acquire Equinor stake in ACG and BTC pipeline</a></p></li>
<li><p><a href="https://www.eia.gov/international/analysis/regions-of-interest/Caspian_Sea" rel="nofollow noopener" target="_blank">U.S. Energy Information Administration: Caspian Sea regional energy analysis</a></p></li>
<li><p><a href="https://oc-media.org/bps-caspian-output-drop-eases-after-launch-of-new-6-billion-platform/" rel="nofollow noopener" target="_blank">OC Media: BP’s Caspian output drop eases after launch of new platform</a></p></li>
</ul>

IEPTC reference profile for Azeri - Chirag - Gunashli Oil and Gas in Azerbaijan,covering asset type,location,development status,and upstream industry context.

Azeri - Chirag - Gunashli Oil and Gas Project,Azerbaijan

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Azeri - Chirag - Gunashli Oil and Gas Project,Azerbaijan

Azeri - Chirag - Gunashli Oil and Gas Project,Azerbaijan

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