BAKU, Azerbaijan, February 12. In 2023, bp and its co-venturers spent about $504 million in operating expenditure on Azeri-Chirag-Gunashli (ACG) block of fields offshore Azerbaijan, as compared to $470 million in 2022, Trend reports via bp.
As such, the company’s opex on ACG rose by 7.2 percent year-on-year.
This is while capital expenditure on ACG activities last year stood at $1.518 billion, as compared to $1.624 billion, showing a percent 6.5 decrease year-on-year.
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%), ONGCVidesh (2.31%).
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.
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