ACG produces 179M barrels of oil in 2014
Baku, Azerbaijan, Nov.20
By Seymur Aliyev - Trend:
British BP and its partners produced 24.2 million metric tons (179 million barrels) during the three quarters of 2014 on Azeri-Chirag-Guneshli (ACG) block of Azerbaijani oil and gas fields versus 24.5 million metric tons (181 million barrels) in January-September 2013, said the report on the results of BP's operations in Azerbaijan for the three quarters of 2014.
The report said that average daily oil production in the ACG for the period amounted to 655,700 barrels.
The report said that the average daily oil production on the new platform West Chirag from five wells exceeded 90,000 barrels for the first three quarters of 2014.
Production from the first well on the platform West Chirag began January 28, 2014. With the launch of new wells, oil production on the platform will increase during the 2014, the report said.
In 2013, ACG produced 32.2 million metric tons (239 million barrels) versus 32.9 million metric tons in 2012.
In January-September 2014, the volume of operating costs within the framework of the project amounted to $720 million, and the capital expenditure amounted to $1.741 billion.
It is projected that in 2014 the volume of capital expenditure within the project will be about $2.07 billion, and operating expenditure will amount to $1.05 billion.
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.
Seymur Aliyev is head of Trend's Russian language department.