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Azeri–Chirag–Gunashli or Azeri–Chirag–Deepwater Gunashli is a complex of oil fields in the Caspian Sea, about 120 kilometres (75 mi) off the coast of Azerbaijan. It consists of the Azeri and Chirag oil fields, and the deepwater portion of the Gunashli oil field. An overall estimate of the area of the development is 432.4 square kilometres (167.0 sq mi). 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 5 to 6 billion barrels of petroleum. Peak oil production of 885,000 barrels per day (140,700 m3/d) was reached in 2010. However by the first quarter of 2024, production had fallen to 339,000 barrels per day (53,900 m3/d), or approximately one-third of peak value, as the production rates moved towards terminal decline. As of 2021, ACG oil accounted for 95% of all Azerbaijani oil exports.
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