Around 16 mln tonnes of oil produced at Azeri-Chirag-Guneshli block in 1H, BP says

Photo: Around 16 mln tonnes of oil produced at Azeri-Chirag-Guneshli block in 1H, BP says / Oil&Gas

Baku, Azerbaijan, Aug. 15

By Emil Ismayilov - Trend:

Total ACG production during the first half of 2014 was on average 656,100 barrels per day (b/d) (118.8 million barrels or approximately 16 million tonnes in total) from the Chirag, Central Azeri, West Azeri, East Azeri, Deepwater Gunashli and West Chirag platforms compared to 16.4 million tonnes in Jan.-June 2013, according to BP report as of Jan.-June 2014.

During the first half of 2014, ACG marked a major milestone by starting production from the Chirag Oil Project (COP). First Oil from the West Chirag platform was achieved on 28 January from one of the pre-drilled wells. Since that time West Chirag production has been increasing to its current level of over 50,000 barrels per day from four wells. Production will continue to increase through 2014 as the other pre-drilled wells are brought on-line, according to the report.

Around 32.2 million tonnes (239 million barrels) were extracted at ACG in 2013 compared to 32.9 million tonnes in 2012.

During the first half of 2014 we spent approximately $479 million in operating expenditure and $1,231 million in capital expenditure on ACG activities. For the full year, it is planned to spend approximately $1,052 million in operating expenditure and $2,068 million in capital expenditure.

The contract for the development of Azeri-Chirag-Guneshli large offshore field was signed in 1994.

Shares in the contract for development of Azeri-Chirag-Guneshli block of fields are distributed as follows: BP (operator in Azeri-Chirag-Guneshli) - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.56 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.

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