Baku, Azerbaijan, Feb. 21
By Maksim Tsurkov – Trend:
Azerbaijan produced 31.1 million tons of light oil in 2016 as compared to 31.3 million tons in 2015, BP Azerbaijan said in a report Feb. 21.
BP Azerbaijan operates the development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields, where the Azeri Light oil is produced.
The report says that total ACG production for the full year was on average 630,000 barrels per day, including 54,000 barrels from the Chirag platform, 144,000 barrels from the Central Azeri, 114,000 barrels from the West Azeri, 72,000 barrels from East Azeri, 126,000 barrels from the Deepwater Gunashli and 120,000 barrels from the West Chirag platforms.
“As part of our ACG annual work programme, two planned maintenance programmes (turnarounds – TAR) were successfully implemented in 2016 – on the Deepwater Gunashli platform in September and on the East Azeri platform in November,” said BP Azerbaijan in the report.
Azerbaijan produced 31.3 million tons of Azeri Light oil in 2015, as compared to 31.5 million tons in 2014.
Operating expenditures on the project totalled $503 million, while capital expenditures amounted to $1.45 billion in 2016.
A contract for development of ACG block of oil and gas fields was signed in 1994. The proven oil reserves of the block near one billion tons.
The shareholders in the project are BP (operator of the Azeri-Chirag-Gunashli, 35.8 percent), Chevron (11.3 percent), Inpex (11 percent), AzACG (11.6 percent), Statoil (8.55 percent), Exxon (8 percent), TPAO (6.75 percent), Itochu (4.3 percent) and ONGC (2.7 percent).
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