BP’s ACG output tops 20m tons in half-year
BAKU – Oil giant BP produced 20.2 million tons of oil from Azerbaijan’s major Azeri-Chirag-Gunashli (ACG) fields in the Caspian Sea in the first half of 2010.
Average production from ACG made up 827,600 barrels per day, BP Azerbaijan said in a report released on Tuesday.
The company’s full year plan remains to be an average of about 42.1 million tons, up from 40.3 million tons reported in 2009. Of this, about 90,900 bpd is expected from the Chirag platform, 184,200 bpd from Central Azeri, 285,700 bpd from West Azeri, 158,100 bpd from East Azeri and 135,100 bpd from Deep Water Gunashli.
Daily flow-rate from the ACG field is currently 854,000 barrels.
During the first half-year ACG spent about $189.7 million in operating expenditure and $774 million in capital expenditure. For the full year BP Azerbaijan expects to spend about $587m in operating expenditure and $1.584m in capital expenditure on ACG activities.
In January-June, BP Azerbaijan delivered around 9.5m cubic meters per day of ACG associated gas to Azerbaijan’s state energy firm SOCAR. In total the company delivered 1.7bn cubic meters during the first half. For the full year BP Azerbaijan plan to deliver 1.9bn cubic meters of associated gas to SOCAR.
ACG participating interests are: BP (operator – 34.1%), Chevron (10.2%), SOCAR (10%), INPEX (10%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.8%), Devon (5.6%), ITOCHU (3.9%), and Hess (2.7%).
The Baku-Tbilisi-Ceyhan (BTC) pipeline that carries mainly ACG oil pumped a total of about 136m barrels, or around 18m tons, during the first half of 2010.
Since June 4, 2006 up to the end of June 2010, 1,195 tankers were loaded at the Turkish Mediterranean port of Ceyhan with a total of about 125.6m tons (938m barrels) of crude oil transported via BTC and sent to world markets.
On July 21, BTC achieved its highest daily throughput of 1.057m bpd. BTC’s throughput capacity is currently 1.2m bpd.
During the first half BTC spent $13.4m in capital expenditures and the full year plan is $69m.
Following the signature of a new transportation agreement in July, crude from Turkmenistan continues to be transported. BTC also has ongoing agreements to carry oil from the Tengiz field in Kazakhstan.
The BTC Co. shareholders are:
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