ACG oil output hit 240 million barrels in 2012
In 2012, BP and its partners produced on average 664,400 barrels of oil per day (more than 243 million barrels or about 32.9 million tons in total) from the Azeri oil fields block Azeri-Chirag-Guneshli (ACG), the BP report on the 2012 results reads.
During the report period, the operating expenditure on ACG was $725 million and capital expenditure nearly $2, 5 million, the report says.
In 2013, it is expected to spend about 758 million in operating expenditure and 2.51 million in capital expenditure on thbe ACG activities.
Equity participation in the contract is distributed as follows: BP (operator of the Azeri-Chirag-Guneshli - 35.78 per cent, Chevron - 11.27 per cent, Inpex - 10.96 per cent, AzACG - 11.65 per cent, Statoil - 8 56 per cent, Exxon - 8 per cent, TPAO - 6.75 per cent, Itocu - 4.3 per cent. Hess (2.72 per cent) sold its share to Indian ONGC and the deal is expected to close in the first quarter of 2013.
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