ACG production 30m tons in nine months
Oil giant BP and its partners produced about 30 million tons of oil (around 206 million barrels) from Azerbaijan’s Azeri-Chirag-Gunashli (ACG) block of fields in the Caspian Sea in January-September, BP has said in a report.
Thus, average production made up 757,500 barrels per day, according to the report, posted on the company’s website.
In 2010, BP Azerbaijan produced 40.6 million tons (300 million barrels) of oil from the ACG fields, 300,000 tons over 2009.
BP Azerbaijan spent $501 million in ACG operating expenditure and $1.352 billion in capital expenditure in the first three quarters of 2011, according to the report. For the full year, the company expects to spend about $628 million and $1.998 million on ACG activities, respectively.
In 2010, BP Azerbaijan spent $426 million in operating expenditure and $1.648 billion in capital expenditure.
ACG participating interests are: BP (operator - 35.83%), Socar (11.65%), Chevron (11.27%), Inpex (10.96%), Statoil (8.56%), ExxonMobil (8%), TPAO (6.75%), Itochu (4.3%), and Hess (2.72%).
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