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Wednesday, 10 May 2017 19:00

ACG output decreases by 80,000 barrels for two years Featured

ACG output decreases by 80,000 barrels for two years

In the first quarter of 2017 ACG activities spent approximately $111 million in operating expenditure and about $304 million in capital expenditure.

Total ACG production for the quarter was on average 581,000 barrels per day (b/d) (over 52 million barrels or over 7 million tonnes in total) from the Chirag (55,000 b/d), Central Azeri (124,000 b/d), West Azeri (112,000 b/d), East Azeri (75,000 b/d), Deepwater Gunashli (121,000 b/d) and West Chirag (94,000 b/d) platforms.

At the end of the first quarter, 107 oil wells were producing, while 48 wells were used for gas or water injection, Caspian Energy News (www.caspianenergy.net) reports with reference to BP's report.

It should be noted that according to BP-Azerbaijan, in the first quarter of 2016 the company reduced the cost of the ACG project development project by 15.4% compared to the same period of the previous year, to $533 million. Of this, ACG operating expenditure for the reporting period comprised $137 million, capital expenditure - $ 396 million.

In the first quarter of 2016 ACG daily oil production averaged 651,000 barrels. The average daily oil production decreased by 10,000 barrels or 1.51% compared with the same period of the last year.

In total, the average daily production at the Azeri-Chirag-Gunashli (ACG) fields in 2016 was 630,000 barrels from Chirag (54,000 barrels), Central Azeri (144,000 barrels), West Azeri (114,000 barrels), East Azeri (72,000 barrels), Deepwater Gunashli (126,000 barrels), and West Chirag (120,000 barrels). In total, in the reporting period ACG produced 230 million barrels or 31.1 million tonnes.

In 2015, the average daily production at ACG was 634,000 barrels from Chirag (48,000 barrels), Central Azeri (154,000 barrels), West Azeri (110,300 barrels), East Azeri (71,000 barrels), Deepwater Gunashli (141,400 barrels) and West Chirag (109,400 barrels). In total, in the reporting period ACG produced 231 million barrels or 31.3 million tonnes.

At the end of 2016, 100 oil wells were producing, while 49 wells were used for gas or water injection

ACG participating interests are: BP (35.8 per cent), SOCAR (11.6 per cent), Chevron (11.3 per cent), INPEX (11 per cent), Statoil (8.6 per cent), ExxonMobil (8 per cent), TPAO (6.8 per cent), ITOCHU (4.3 per cent), ONGC Videsh Limited (OVL) (2.7 per cent).

Person in charge of the newsline: Fidan Isayeva

 

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