BP decreases production of Azeri Light
Baku, Azerbaijan, Nov.30
By Maksim Tsurkov - Trend:
British BP and its partners produced 24 million tons of oil (175 million barrels) for three quarters of 2015 on Azeri-Chirag-Guneshli (ACG) block of Azerbaijani oil and gas fields versus 24.2 million tons of oil (181 million barrels) in the same period of 2014, said the report on the results of BP's operations in Azerbaijan for January-September of 2015.
The report said that average daily oil production in the ACG for the period amounted to 640,000 barrels.
In 2014, British BP and partners extracted 31.5 million tons of oil (233 million barrels) against 32.2 million tons of oil (239 million barrels), extracted in 2013 on a block of Azerbaijani oil and gas fields Azeri-Chirag-Guneshli.
In January-September 2015, the volume of operating costs within the framework of the project amounted to $570 million, and the capital expenditure amounted to $1.5 billion.
It is projected that in 2015 the volume of capital expenditure within the project will be over $1.99 billion, and operating expenditure will amount to $978.7 million.
The contract for the development of Azeri-Chirag-Guneshli large offshore field in the Azerbaijani sector of the Caspian Sea, with proven oil reserve of nearly 1 billion metric tons, 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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