BP-Azerbaijan reports 1Q07 results

BP-Azerbaijan reports 1Q07 results
# 29 May 2007 15:50 (UTC +04:00)
“During the first quarter of 2007, Azeri-Chirag-Guneshli spent $79 million in operating expenditure and $614 million capital expenditure. For the full year, we plan to spend $396 million in operating expenditure and $2,579 million in capital expenditure,” BP-Azerbaijan President Bill Schrader told a 2007 first quarter results media briefing.
“During the first three months we produced a total of 61 million barrels (around 678,000 barrels per day average) from the Chirag, Central Azeri, West Azeri and East Azeri platforms. Our current total daily production is over 700,000 barrels per day. Our plan to produce an average of 708,000 barrels per day from the four platforms in total for the full year remains on target. Of this, 141,000 barrels per day is expected from Chirag, 257,000 barrels per day from Central Azeri, 168,000 barrels per day from West Azeri and 142,000 barrels per day from East Azeri,” he noted.
He added that Chirag has 21 wells in operation, Central Azeri has 14 wells, West Azeri has 6 wells and East Azeri is producing around 150,000 barrels per day from five out of the 8 pre-drilled wells.
He noted that 733 million cubic meters of associated gas were delivered to Azerbaijan’s national grid system. BP-Azerbaijan employs 1,831 Azerbaijan nationals. /APA-Economics/

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THE OPERATION IS BEING PERFORMED