President of BP Azerbaijan: AIOC to Significantly Increase Oil Production from ACG in 2007
Bill Schroeder, the President of BP Azerbaijan, said during the today press-conference that AIOC (Azerbaijan International Operating Company) has plans to produce 708 thousand barrels of oil per day from the bloc of fields of Azeri-Chiragh-Gunashli (ACG) in 2007. This figure is on 236 thousand tons more versus the corresponding one registered in 2006, Trend reports.
The hydrocarbon production from gas condensate field, Shah-Daniz is expected to reach 65 thousand barrels of oil equivalent per day, including 48 thousand barrels of oil equivalent per day (or 2,8 bln. cubic meters of gas per year) and 17 thousand barrels of oil equivalent of gas condensate in 2007.
The aggregate capital expenditures on the projects вЂ" ACG, BTC (Baku-Tbilisi-Veyhan), Shah-Daniz, and SCP (South Caucasian Pipeline) to be put in 2007 are expected at the rate of $3,092 bln, including $2,579 bln. (on $102 mln. more versus 2006)- ACG , BTC вЂ" $138 mln. (on $782 mln. less versus 2006), Shah-Daniz- $334 mln. (on $437 mln. less against 2006), SCP - $41 mln (on $228 mln. less against 2006).