Production on ACG reduced by 7 million barrels, expenditures by $118M
BP-Azerbaijan told APA-Economics that 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.
In the first quarter of 2016 total ACG production was on average 651,000 barrels per day (b/d) (over 59 million barrels or 8 million tonnes in total) from the Chirag (46,000 b/d), Central Azeri (155,000 b/d), West Azeri (116,000 b/d), East Azeri (69,000 b/d), Deepwater Gunashli (139,000 b/d) and West Chirag (126,000 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. ACG completed 5 oil producers and 2 water injector wells during the first quarter of 2017.
In the first quarter of 2017, BP spent approximately $111 million in operating expenditure and about $304 million in capital expenditure on ACG activities. These figures relevantly made up $137 million and $396 million last year.
In the first quarter of 2017, ACG delivered an average of 12.1 million cubic metres per day of ACG associated gas to SOCAR (1.1 billion cubic metres in total), primarily at the Sangachal Terminal but also to SOCAR’s Oil Rocks facility. The remainder of the associated gas produced was re-injected for reservoir pressure maintenance.
In the first quarter of 2017, oil and gas from ACG and Shah Deniz continued to flow via subsea pipelines to the Sangachal Terminal. The daily capacity of the Terminal’s processing systems is currently 1.2 million barrels of crude oil and about 29.5 million standard cubic metres of Shah Deniz gas, while overall processing and export capacity for gas, including ACG associated gas is about 49.3 million standard cubic metres per day.
During the first quarter, the Sangachal terminal exported more than 69 million barrels of oil. This included over 60.5 million barrels through Baku-Tbilisi-Ceyhan (BTC), over 7.5 million barrels through the Western Route Export Pipeline (WREP), and more than 1.1 million barrels via a separate condensate export line.
Gas is exported via the South Caucasus Pipeline (SCP) and via SOCAR gas pipelines connecting the Terminal’s gas processing facilities with Azerigas’s national grid system.
On average, 26.5 million standard cubic metres (about 936 billion standard cubic feet) of Shah Deniz gas was exported from the Terminal daily during the first quarter.
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).
Related news releases
- 24.09.2017President Ilham Aliyev attended opening of Garagashli substation in Salyan
- 22.09.2017Anglo Asian Mining announces average sale price of gold
- 22.09.2017Anglo Asian Mining borrowed $2.7M from Yapi Credit Bank Azerbaijan
- 21.09.2017SOCAR and its partners invested $76B in oil and gas industry so far
- 21.09.2017Shah Deniz-2 is making good progress towards full completion on schedule and below the planned budget - BP
- 21.09.2017Vice President: Favorable oil price for SOCAR is $60-65, but we take into account realities in our strategy
- 21.09.2017SOCAR sells 1.4 million tonnes of gasoline, 1.2 million tonnes of diesel in Azerbaijan
- 20.09.2017$42.7B to be invested in ACG
- 20.09.2017AZN 16B transferred to SOCAR’s accounts in authorized banks
- 20.09.2017SOCAR imports 1.1 bcm of gas this year
- 20.09.2017SOCAR announces base price of crude oil and gas
- 20.09.2017Volume of oil and condensate extracted from Shahdeniz so far announced
- 20.09.2017BTC transported nearly 340 million tonnes of Azerbaijani oil so far
- 20.09.2017Azerbaijan oil output to reach 2 billion tonnes
- 19.09.2017President Ilham Aliyev awards some oil workers
- 18.09.2017Azerbaijan gets decline in solar power production
- 18.09.2017Azerbaijan triples gold production
- 18.09.2017Gas processing plant processes 1.7 bcm of gas this year
- 15.09.2017Azerbaijan sees 18.5% decline in diesel production
- 15.09.2017SOCAR reduces oil output by 9%
- 14.09.2017SOCAR, Statoil discuss development of "Karabakh" oilfield and "Ashrafi" and "Dan Ulduzu" structures
- 14.09.2017President Ilham Aliyev receives Statoil Executive Vice President - UPDATED
- 14.09.2017President Ilham Aliyev meets with UK Minister of State
- 14.09.2017Ambassador: US is pleased to continue cooperation with Azerbaijan within extension of agreement on ACG development
- 14.09.2017UK PM: I’m sure the new contract will further develop our coop with Azerbaijan
- 14.09.2017Turkish presidents sends message to participants of signing ceremony of new ACG contract
- 14.09.2017Georgian PM: Signing of new ACG contract ‘a historic event’
- 14.09.2017BP: Over $40B to be invested in ACG development
- 14.09.2017Turkey says will continue to be important partner of Azerbaijan
- 14.09.2017New ACG participating interests announced
- 14.09.2017President: We established very profitable cooperation with BP during 23 years
- 14.09.2017Ilham Aliyev: Azerbaijan lives at its own expense
- 14.09.2017Azerbaijani goverment and co-venturers sign amended and restated Azeri-Chirag-Deepwater Guneshli PSA
- 14.09.2017President: Azerbaijan’s currency reserves will increase more
- 14.09.2017President: New contract on ACG development is signed with more favorable and better conditions for Azerbaijan
- 14.09.2017Ceremony being held for signing a new contract on development of ACG field by 2050
- 13.09.2017IGB to sign agreement with Azerbaijan in early 2018 - OFFICIAL
- 13.09.2017Non-OPEC countries fulfill agreement by 118% thanks to Azerbaijan
- 13.09.2017Oil up on OPEC output decline; U.S. refinery restarts
- 12.09.2017Azerbaijan gets 41% decline in export of oil products
- 10.05.2017BP dismisses 32 Azerbaijani national employees in Q1
- 10.05.2017BP: Shahdeniz Stage 2 now over 92% complete
- 10.05.2017Shahdeniz produces 2.4 bcm of gas in Q1
- 05.05.2017Azerbaijan submits data on April’s oil output to OPEC
- 05.05.2017Iran to purchase additional energy from Azerbaijan in summer months - minister - EXCLUSIVE
- 05.05.2017Brent crude oil price drops to 5-month low of $47 per barrel