In the first quarter of 2025, bp and its co-venturers spent about $115 million in operating expenditure and about $251 million in capital expenditure on ACG activities, APA reports, citing bp’s report on its operations in Azerbaijan for the firts quarter of the current year.
During the first quarter, the 4-dimensional (4D) high-definition ocean bottom node seismic programme on ACG progressed with the processing of the data acquired in 2024 and preparations to commence data acquisition for the second year in May.
During the quarter, ACG continued to safely and reliably deliver stable production. Total ACG production for the quarter was on average about 331,000 barrels per day (b/d) (about 30 million barrels or 4 million tonnes in total) from the Chirag (21,000 b/d), Central Azeri (87,000 b/d), West Azeri (76,000 b/d), East Azeri (43,000 b/d), Deepwater Gunashli (54,000 b/d), West Chirag (25,000 b/d) and ACE (25,000 b/d) platforms.
At the end of the first quarter, 145 oil wells were producing, while 44 were used for water and eight for gas injection.
BP remains the operator of the ACG block with a 30.37% stake. Other shareholders include AzACG (SOCAR) – 31.65%, MOL – 9.57%, Inpex – 9.31%, Equinor – 7.27%, ExxonMobil – 6.79%, TPAO – 5.73%, Itochu – 3.65%, and ONGC Videsh Ltd. (OVL) – 2.92%. Although the original PSA was set to expire in 2024, a revised and extended agreement was signed in 2017, ensuring the project's continuation through 2050 and significantly enhancing its development potential.
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