BP reduces expenses on ACG by $707M in 2016

BP reduces expenses on ACG by $707M in 2016
# 21 February 2017 13:00 (UTC +04:00)

BP-Azerbaijan told APA-Economics that total ACG production for the full year was on average 630,000 barrels per day (b/d) (over 230 million barrels or over 31.1 million tonnes in total) from the Chirag (54,000 b/d), Central Azeri (144,000 b/d), West Azeri (114,000 b/d), East Azeri (72,000 b/d), Deepwater Gunashli (126,000 b/d) and West Chirag (120,000 b/d) platforms.

 

Remind that ACG production for 2015 was on average 634,000 barrels per day (b/d) (over 231 million barrels or over 31.3 million tonnes in total) from the Chirag (48,000 b/d), Central Azeri (154,000 b/d), West Azeri (110,000 b/d), East Azeri (71,000 b/d), Deepwater Gunashli (141,000 b/d) and West Chirag (109,000 b/d) platforms.

 

As part of BP’s ACG annual work programme, two planned maintenance programmes (turnarounds - TAR) were successfully implemented in 2016 - on the Deepwater Gunashli platform in September and on the East Azeri platform in November.

 

In accordance with the plan, production from the Deepwater Gunashli platform was suspended in September for about 11 days and from the East Azeri platform in November for about 12 days. The production suspensions were done to enable efficient maintenance, inspection and project work. The programmes, which were designed to maintain the long-term ability of the platforms to produce in a safe, reliable and environmentally sound way, were completed safely and on schedule.

 

At the end of 2016, 100 oil wells were producing, while 49 wells were used for gas or water injection. Out of these wells, five were among BP’s top 10 producing wells around the world as of the end of 2016.

 

ACG completed 15 oil producer wells, 7 water injection wells and 1 gas injector well during 2016.

 

In 2016, BP spent approximately $503 million in operating expenditure ($760 million in 2015) and $1.45 billion in capital expenditure ($1.9 billion in 2015) on ACG activities.

 

ACG participating interests are: BP (35.8 per cent), SOCAR (11.6 per cent), Chevron (11.3 per cent), INPEX (11 per cent), Statoil (8.6 per cent), ExxonMobil (8 per cent), TPAO (6.8 per cent), ITOCHU (4.3 per cent), ONGCVidesh Limited (OVL) (2.7 per cent). BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.

 

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