BP announces ACG oil output figures in Q1
Azerbaijan`s major Azeri-Chirag-Gunashli fields in the Caspian Sea produced 8.8 million tons, or 64.8 million barrels of oil, in the first quarter of 2012, the ACG operator BP said in a quarterly report on Monday.
According to the report, average daily oil production on this block of fields was 711,800 barrels in January-March.
ACG spent $169.1 million in operating expenditure and $571.4 million in capital expenditure in Q1. For the full year, BP expects to spend about $708 million in operating expenditure and $2.516 billion in capital expenditure on ACG activities.
A total of 60 oil wells were producing, while 30 wells were used for injection at the ACG fields in Q1.
In 2011, BP and its partners produced a total of 35.4 million tons, or about 262 million barrels of oil, from ACG.
ACG participating interests are: BP (35.78 percent), Socar (11.65 percent), Chevron (11.27 percent), Inpex (10.96 percent), Statoil (8.56 percent), ExxonMobil (8 percent), TPAO (6.75 percent), Itochu (4.3 percent) and Hess (2.72 percent).
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