Wikipedia
Azeri–Chirag–Gunashli (ACG, ) or Azeri–Chirag–Deepwater Gunashli is a complex of oil fields in the Caspian Sea, about off the coast of Azerbaijan. It consist of Azeri and Chirag oil fields, and the deepwater portion of the Gunashli oil field. An overall estimated area of the development is . It is developed by the Azerbaijan International Operating Company, a consortium of international oil companies, and operated by BP on behalf of the consortium. The ACG fields have estimated recoverable reserves of about of petroleum. As of the end of 2005, the production rate from eight pre-drilled wells at the platform was approximately .
The peak of oil production, , was reached in third quarter of 2010. In the first quarter of 2012 oil production was about .
BP reports that crude oil from ACG is exported through the Baku–Tbilisi–Ceyhan pipeline to the Mediterranean Sea and the Baku-Supsa Pipeline to Supsa in Georgia, as well as through the Baku-Novorossiysk Pipeline to Novorossiysk in Russia. It is also believed that there are large untapped gas reserves under ACG oilfields. Media reports indicate that according to American Consulting Association IHS CERA (Cambridge Energy Research Associates), the Azeri–Chirag–Gunashli is the third largest oil-field development out of 20 listed. Total investment is estimated at US$20 billion. As of 2008 reports, oil coming from ACG field accounts to nearly 80% of Azerbaijan's total oil output and is expected to bring Azerbaijan potentially $80 billion in profits.