ACG output edges up
BAKU – Oil giant BP produced 40.6 million tons of oil from Azerbaijan’s major Azeri-Chirag-Gunashli (ACG) field it operates in the Caspian Sea, 300,000 tons over 2009, the company said.
Average daily production was 823,100 barrels, BP said in a report.
The company delivered 3.4 billion cubic meters of ACG associated gas to Azerbaijan last year, 78.9 percent above projections. Part of the gas was delivered to the distribution network of the state-controlled gas supplier Azerigas for domestic consumption, while the rest was pumped to Azerbaijani state energy firm SOCAR’s compressor station at the Oil Rocks field.
BP Azerbaijan spent $426 million in ACG operating expenditure and 1.648 billion in capital expenditure in 2010.
The ACG field produces most of Azerbaijan’s oil. The Baku-Tbilisi-Ceyhan (BTC) pipeline, which runs through Georgia and Turkey, transports oil extracted at the fields to world markets.
ACG participating interests are: BP (37.4%), Chevron (11.3%), SOCAR (10%), INPEX (11%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.7%), ITOCHU (4.3%) and Hess (2.7%).
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