BP Azerbaijan announces 2013 results

February 14, 2014

British BP, which operates a number of major oil and gas projects on behalf of its co-ventures in Azerbaijan, Georgia, and Turkey, made public the results of 2013, Azernews reported on February 13.

The company's February 13 report said the giant Azeri-Chirag-Gunashli (AGC) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea produced over 239 million barrels (32.2 million tons) of oil.

The daily production in the ACG fields was an average of 655,370 barrels per day (bpd), BP said.

In 2013, the volume of operational expenditures and capital expenditures within the project reached $772 million and $2,833 million, respectively.

The company is expected to spend $1,052 million in operating expenditures, and $2,068 million in capital expenditures for ACG activities in 2014.

At the end of the year, a total of 81 oil wells were producing, while 37 wells were used for injection in the ACG field, the report said.

In 2013, BP delivered around 6 million cubic meters of ACG associated gas to SOCAR on a daily basis, which made a total of 2.19 billion cubic meters.

Furthermore, in 2013, the giant Shah Deniz gas condensate field in the Caspian Sea produced about 9.8 billion cubic meters of gas and 2.48 million tons (19.6 million barrels) of condensate.

"Since the start of Shah Deniz production in late 2006 till the end of 2013, about 47.3 billion standard cubic meters of Shah Deniz gas, and about 99.5 million barrels (12.6 million tons) of Shah Deniz condensate has been produced," BP said.

According to the report, the volume of operating expenditures and capital expenditures in 2013 amounted to $200 and $1,700 million respectively. In 2014, the company plans to spend around $200 million on operating expenditure and about $4,000 million on capital expenditure for Shah Deniz activities.

Copyright: Azernews, 2014