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BP increases capex on Azeri-Chirag-Gunashli y-o-y

Oil&Gas Materials 16 November 2020 10:52 (UTC +04:00)
BP increases capex on Azeri-Chirag-Gunashli y-o-y

BAKU, Azerbaijan, Nov.16

By Leman Zeynalova – Trend:

In the first three quarters of 2020, BP spent about $399 million in operating expenditure and about $1,398 million in capital expenditure on Azeri-Chirag-Gunashli (ACG) activities, Trend reports with reference to BP Azerbaijan.

This is while in Q3 2019, the company spent more than $418 million in operating expenditure and about $1,034 million in capital expenditure.

During the third quarter, fabrication activities on the topsides and drilling facilities for the Azeri Central East (ACE) platform continued at the fabrication yard in Bibi-Heybat. The latest activities include the commencement of the major lift programme despite the disruption caused by COVID-19, the arrival of the drilling derrick at the yard, with all three sections of the derrick already safely offloaded from the barge and positioned at the site’s construction location. Construction of the drilling modules is currently ongoing.

At the Heydar Aliyev Baku Deepwater Jackets factory (BDJF) the pin piles have been completed, successfully loaded out and driven into the seabed ready to receive the platform jacket. The jacket fabrication continues, as does the work on the subsea structures.

Engineering and procurement works remain on track to support the first production from the ACE project in 2023, with the larger equipment now moving from the suppliers into Azerbaijan.

BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.

ACG participating interests are: BP (30.37%), SOCAR (25.0%), MOL (replaced Chevron as of 16 April 2020 (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).

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Follow the author on Twitter: @Lyaman_Zeyn

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