Azernews.Az

By Aynur Jafarova

British BP made the results of the first quarter of 2014 public on May 15.

The company reported the giant Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea produced 58 million barrels (8 million tons) of oil.

BP operates a number of major oil and gas projects on behalf of its co-ventures in Azerbaijan, Georgia, and Turkey.

Daily average production in the ACG fields was 645,800 barrels per day (bpd), BP said.

At the end of the quarter, a total of 79 oil wells were produced, while 35 wells were used for injection in the ACG field.

In the first quarter, the project's operational and capital expenditures reached $216 million and $692 million respectively.

The report also said BP delivered around 6.2 million cubic meters of ACG associated gas per day to SOCAR in the first three months.

ACG also delivered four oil producer wells and one water injection well.

The giant Shah Deniz gas condensate field in the Caspian Sea produced 2.32 billion standard cubic meters of gas and about 0.6 million tons (4.44 million barrels) of condensate in the first quarter of 2014.

Daily production at the field amounted to about 26 million cubic meters of gas and 49,330 bpd of condensate.

"Since the start of Shah Deniz production in late 2006 to the end of the first quarter of 2014, about 50.3 bcm of Shah Deniz gas and about 104 million barrels (over 13 million tons) of Shah Deniz condensate has been produced," BP said.

The volume of operating expenditures and capital in the reported period was around $120 million and over $785 million respectively. For the full year, around $480 million is planned to be spent for operating expenditure and $3.65 billion for capital expenditure.

The Baku-Tbilisi-Ceyhan pipeline (BTC) exported about 66 million barrels (8.7 million tons) of crude oil in the reported period.

BTC spent $14.6 million in capital expenditures in the first quarter. For the full year, BTC capital expenditures are expected to reach $119 million.

BTC's throughput capacity is currently 1.2 million bpd.

The BTC pipeline currently carries mainly ACG oil and Shah Deniz condensate from Azerbaijan. In addition, crude oil from Turkmenistan continues to be transported via BTC.

The daily average throughput of the South Caucasus Pipeline's (SCP) was 18.14 million cubic meters of gas, equivalent to 110,430 barrels of oil, in the first quarter of 2014.

SCP spent $12 million in operating and $137 million in capital expenditure. For the full year, operating expenditure is expected to be $50 million. As a result of the ramp-up in the SCP expansion, capital expenditure will increase to $1,250 million.