Total ACG production over 14 mln tons in 1H17 - BP

  17 August 2017    Read: 612
Total ACG production over 14 mln tons in 1H17 - BP

In 1H17, the Azeri-Chirag-Gunashli (ACG) block of fields continued to safely and reliably deliver stable production, BP Azerbaijan said Aug. 17 in a report on its activity for January-June 2017.

BP Azerbaijan operates the development of the ACG block, where the Azeri Light oil is produced.

“Total ACG production for the two quarters was on average 585,000 barrels per day (b/d) (about 106 million barrels or over 14 million tons in total) from the Chirag (56,000 b/d), Central Azeri (129,000 b/d), West Azeri (116,000 b/d), East Azeri (77,000 b/d), Deepwater Gunashli (120,000 b/d) and West Chirag (87,000 b/d) platforms,” reads the report.

In 2016, Azerbaijan produced more than 31.1 million tons of Azeri Light oil against 31.3 million tons in 2015.

In the first half of 2017, more than $230 million were spent in operating expenditure and about $601 million in capital expenditure on ACG activities, according to the report.

A contract for development of ACG block of oil and gas fields was signed in 1994. The proven oil reserves of the block near one billion tons.

The shareholders in the project are BP (operator of the Azeri-Chirag-Gunashli, 35.8 percent), Chevron (11.3 percent), Inpex (11 percent), AzACG (11.6 percent), Statoil (8.55 percent), Exxon (8 percent), TPAO (6.75 percent), Itochu (4.3 percent) and ONGC (2.7 percent).

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