BAKU, Azerbaijan, Feb.18
By Leman Zeynalova – Trend:
Hungarian MOL Group’s capital expenditure (capex) on development of Azeri-Chirag-Gunashli (ACG) block of oil fields in the Azerbaijani section of the Caspian Sea stood at $156.3 million in the fiscal year of 2021, as compared to $117.2 million in the fiscal year of 2020, Trend reports with reference to the company.
As such, the company’s capex on ACG development rose by 33.36 percent year-on-year. Other expenditures of the company on the block equaled to $2.6 million.
In Q4 the company’s total expenditures on ACG equaled to $39.9 million, versus $37.9 million, showing a 5.27 percent increase quarter-on-quarter.
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
In 2021, bp spent about $533 million in operating expenditure and $1,660 million in capital expenditure on Azeri-Chirag-Gunashli activities.
This is while in 2020, the company spent more than $531 million in operating expenditure and more than $1,817 million in capital expenditure on ACG activities.
As such, bp’s opex and capex for ACG rose by 0.37 percent and dropped by 36.1 percent year-on-year, respectively.
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%).
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