By the end of 2018, BP will exceed the production plan for the Azeri-Chirag-Gunashli (ACG) oil and gas fields in the Azerbaijani sector of the Caspian Sea, Gary Jones, BP regional president for Azerbaijan, Georgia and Turkey, said Dec. 5, Trend reports.
Implementation of the ACG project continues with great success and the project has a very high efficiency, Jones said.
As an operator, BP is very pleased with all the projects implemented in Azerbaijan, he noted, adding that these projects are ACG and Shah Deniz.
BP believes that all these projects are at international level, it has made certain investments in these projects and will continue to invest, he underlined.
A contract for development of ACG was signed in 1994. A new contract for development of the ACG block until 2050 was signed in Baku Sept. 14, 2017.
The ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.
Follow us on Twitter @AzerNewsAz