BP reveals volume of investments in Azerbaijani oil & gas projects

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    Trend: BP and its partners invested $36.87 million in oil and gas projects in Azerbaijan in 2012-2016, according to BP Azerbaijan Sustainability Report 2016.

    Capital expenditures for the Azeri-Chirag-Gunashli (ACG), Shah Deniz, Baku-Tbilisi-Ceyhan and South Caucasus projects amounted to $29.845 billion, and operating expenses were estimated at $7.025 billion.

    At the same time, capital expenditures for projects since the beginning of operations in 1995 amounted to $64.5 billion. BP and its partners spent $72 million for the implementation of social programs, and these expenditures amounted to $19.1 million for the period of 2012-2016.

    “From the start of production until the end of 2016, 92.7 million tons of oil have been extracted from the Chirag platform, 105.7 million tons from Central Azeri, 96 million tons from West Azeri, 54.7 million tons from East Azeri, 53.9 million tons from Deepwater Gunashli, 13.8 million tons from West Chirag,” the report said. “The total production from the ACG block at the end of 2016 amounted to 416.7 million tons of oil.”

    At the end of 2016, a total of 100 oil wells were producing, and 49 wells were used for gas or water injection. Five of these wells were among BP’s top 10 producing wells around the world in 2016.

    From the start of production until the end of 2016, 78.4 billion cubic meters of gas and 19.6 million tons of condensate were extracted from the Shah Deniz gas field.

    BP is the operator of the Shah Deniz and ACG development projects.

    A contract for development of the Shah Deniz offshore field was signed on June 4, 1996.

    The field’s reserve is estimated at 1.2 trillion cubic meters of gas.

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