$1.64B spent on ACG last year

$1.64B spent on ACG last year
# 16 February 2018 09:23 (UTC +04:00)

In 2017, BP Azerbaijan spent more than $456 million in operating expenditure and about $1.176 billion in capital expenditure on ACG activities.

 

According to BP Azerbaijan, on 14 September 2017 the Azerbaijan Government and SOCAR, together with the international co-venturers signed the amended and restated ACG PSA. The contract was ratified by the Parliament (Milli Majlis) of the Republic of Azerbaijan on 31 October.

 

BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.

 

ACG participating interests are: BP (30.37 per cent), SOCAR (25.0 per cent), Chevron (9.57 per cent), INPEX (9.31 per cent), Statoil (7.27 per cent), ExxonMobil (6.79 per cent), TPAO (5.73 per cent), ITOCHU (3.65 per cent), ONGC Videsh Limited (OVL) (2.31 per cent).

 

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THE OPERATION IS BEING PERFORMED