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BP reduces capex, opex on Azeri-Chirag-Gunashli

Oil&Gas Materials 29 April 2021 13:17 (UTC +04:00)
BP reduces capex, opex on Azeri-Chirag-Gunashli

BAKU, Azerbaijan, Apr.29

By Leman Zeynalova – Trend:

In the first quarter of 2021, BP spent more than $142 million in operating expenditure and more than $463 million in capital expenditure on Azeri-Chirag-Gunashli (ACG) activities, Trend reports citing BP.

This is while in Q1 2020, BP spent about $150 million in operating expenditure and about $522 million in capital expenditure on ACG activities.

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

Despite the challenges and restrictions caused by the pandemic the Azeri Central East (ACE) project remained remarkably resilient during the first quarter of the year along with the other bp-operated activities.

The overall project detailed design engineering works were completed by the end of the quarter. The shipment of major equipment packages and bulk materials to Baku continued in support of the fabrication schedule.

ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).

Follow the author on Twitter: @Lyaman_Zeyn

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