BP-Azerbaijan: In 2012, 33 mln tonnes of oil were extracted from ACG comlpex

BP-Azerbaijan: In 2012, 33 mln tonnes of oil were extracted from ACG comlpex
# 30 July 2013 09:45 (UTC +04:00)

Baku. Nijat Mustafayev – APA-Economics. BP-Azerbaijan has publicized its report on outcomes of 2012.

According to APA-Economics, the extraction in Azeri-Chirag-Gunashli (ACG) fields block started in November, 1997 in Chirag field and the extraction process includes Central, Western and Eastern Azeri, as well as Deepwater Gunashli parts. Consequently, 2 bln. barrels of oil have been extracted here so far. In 2012, daily 664,400 barrels (yearly 243.2 mln barrels or 32.9 mln tonnes) of oil in AGC complex.

Moreover, approximately 9.2 mln cm of associated gas were given to the State Oil Company of Azerbaijan. Totally, 3.4 bcm of associated gas were given to SOCAR in 2012, up 13% from annual forecast.

According to report, in 2012, the operating expenses on ACG made $725 mln, capital expenses - $2,495 mln. In 2013, the operating expenses on ACG are forecasted to make $758 mln, capital expenses - $2,514 mln.

The document also says oil extraction in ACG reduced in 2011-2012: “This was caused by the factors such as reduction of productivity in existing wells, launch of new wells, limited usage opportunity of drilling devices in Caspian and compound geology of productive layer in ACG. In November, 2012, BP, SOCAR and other partners started close cooperation for growth of productivity and problem management on extraction in ACG. They developed plans for effective management of the productivity during next years. The 7 priority directions that were determined includes launch of new wells, management of reduction of layer pressure, well management and optimization of systems, management of extracted sand, control over layer water and sand, periodical technical service strategy and current large investment of capital”.

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