Operating expenditure as part of ACG project to increase in 2014

Photo: Operating expenditure as part of ACG project to increase in 2014 / Oil&Gas

Baku, Azerbaijan, Feb. 13
By Emil Ismayilov - Trend:

During 2013 Azeri-Chirag-Deepwater Gunashli (ACG) produced on average 655,370 barrels per day (b/d) (over 239 million barrels or over 32.2 million tonnes in total) from the Chirag, Central Azeri, West Azeri, East Azeri and Deepwater Gunashli platforms compared to 664,400 barrels or 32.9 million tons in 2012, according to BP report as of 2013.

In 2013 we spent about $772 million in operating expenditure and $2,833 million in capital expenditure on ACG activities.

In 2014 we expect to spend $1,052 million in operating expenditure and $2,068 million in capital expenditure on ACG activities.

The contract for the development of the ACG large offshore field was signed in 1994.

Shares in the contract for development of the Azeri-Chirag-Guneshli block of fields is distributed as follows: BP (operator at Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - eight percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.

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