BP and partners spend almost $30bn in Azerbaijan

Thu 02 September 2010 08:03 GMT | 13:03 Local Time

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Oil major BP and its partners have spent $29.5bn in Azerbaijan since they started work in the country in 1994.

The money has been spent on the Azeri-Chirag-Guneshli (ACG) offshore oilfield bloc, the Baku-Tbilisi-Ceyhan oil pipeline, stage 1 of the Shah Deniz gas condensate field and the South Caucasus gas pipeline, according to BP's Sustainability Report for 2009.

The greater part of expenditure has gone on the development of ACG.

Oil is currently produced from five platforms on the Azeri-Chirag-Guneshli bloc - Chirag-1, Central Azeri, Western Azeri, Eastern Azeri and Deepwater Guneshli.

In 2009 oil production from ACG topped 40.2m tonnes of oil. The average daily oil production was 817,700 barrels last year. In addition, Azerbaijan's state oil company SOCAR received 4bn cubic metres of associated gas during the year.

Capital expenditure on ACG last year was $1.051bn and operational expenditure $659m, BP said.

Rufat Abbasov
News.Az