BP's Azerbaijan Output Drops

Margarita Antidz
Tuesday, May 12, 2020

BP said on Tuesday that oil output at its projects in Azerbaijan declined to 524,000 barrels per day (bpd) in the first quarter of 2020 from 571,000 bpd a year earlier.

Associated gas output at the Azeri-Chirag-Guneshli (ACG) oilfields was 7.9 million cubic meters in the quarter, up from 5.2 million cubic meters a year ago, the BP-led consortium said in a statement.

The oilfields account for most of Azerbaijan's oil production.

The consortium said it spent about $150 million in operating expenditure and $522 million in capital expenditure on its operations at ACG oilfields in the first quarter.

The consortium said that its Azeri units produced about 4.7 billion cubic meters (bcm) of natural gas and 1 million tonnes of condensate at the Shah Deniz field in the first quarter, up from 4.3 bcm and about 1 million tonnes a year ago.

(Reporting by Nailia Bagirova and Margarita Antidze; Writing by Margarita Antidze; Editing by Andrew Heavens)

Categories: Offshore Energy Industry News Activity Oil Production Caspian Sea

Related Stories

BP Starts Up Cypre Gas Project Off Trinidad and Tobago

Israeli Firm Gets Final Permit for US Wave Energy Demo

NYK, Partners to Develop Renewable Energy-Powered Floating Data Center

Current News

Keys to Keeping Offshore Metal Structures Ship Shape

Preview: Japan Energy Summit & Exhibition 2025

Havila Acquires Polarsyssel Offshore Supply Ship

Finnish Port Set for Offshore Wind Overhaul

Subscribe for OE Digital E‑News