Azernews.Az

Oil giant BP and its partners have invested a total of $31.6 billion in Azerbaijan under the projects on tapping the country’s major oil and gas fields and running pipelines exporting Azerbaijani hydrocarbons, according to a report presented at the BP Azerbaijan office last week.

BP, the top foreign investor in Azerbaijan’s oil and gas sector, has been involved in developing the Azeri-Chirag-Gunashli block of oil fields and Shahdaniz gas deposit in the Caspian Sea, as well as construction of the Baku-Tbilisi-Ceyhan (BTC) main oil export pipeline and the South Caucasus Pipeline (SCP) pumping Shahdaniz gas.

The report on BP’s sustainable development in 2010 says that in 2006-2010 alone, investments in the implementation of the four projects amounted to $18.067 billion. Capital expenditure made up $14.039bn of the amount, while operating expenditure - $4.028bn.

According to the report, as of January 1, 2011, 221.9 million tons of oil has been produced from the ACG fields since their development began in November 1997.

Chirag, one of the ACG’s five platforms, has so far produced about 73.8m tons of oil, while Central Azeri platform – 58.4m tons, and West Azeri extracted 49m tons. 25.9m tons have been produced from East Azeri and 14.8m tons from Deep Water Gunashli.

Shahdaniz, Azerbaijan’s largest gas-condensate field, as of the end of 2010 produced 23.5 billion cubic meters of gas and 6.2 million tons of associated condensates since it began operation in November 2006, BP said.

BP also noted that eight of the 25 most productive production wells run by BP in the world in 2010 were in Azerbaijan, with seven of them operated on the ACG fields and one on Shahdaniz.