Saturday, August 8, 2020

BP's Azerbaijan Output Drops

May 12, 2020

The Deepwater Gunashli platform, offshore Azerbaijan - Image credit: BP/Flickr

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)

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