MOL Group entered Azerbaijan in 2019 by acquiring a 9.57% stake in the Azeri-Chirag-Gunashli (“ACG”) oil field, and an effective 8.9% stake in the Baku-Tbilisi-Ceyhan (“BTC”) pipeline that transports the crude to the Mediterranean port of Ceyhan. Closing of the deal took place in April 2020. MOL is the third largest field partner in ACG, a supergiant oil field, located in the Caspian Sea, which is operated by BP and started production in 1997.
In 2021, a total of 15 wells were delivered within the 2021 drilling program. Additionally, two maintenance programs were accomplished, on Chirag and on West Azeri platforms. Azeri Central East project progressed with significant efforts made to mitigate challenges posed by Covid.
PRIORITIES FOR UPCOMING YEARS
MOL is committed to long-term value creation as a responsible JV partner in collaboration with the Operator, the host country and other partners.
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