BP Says its Azeri Oil Output Rises

BP said on Wednesday that oil output at its projects in Azerbaijan rose to 596,000 barrels per day (bpd) in the first half of 2018 from 585,000 bpd a year earlier.

In the first six months of 2018, the company produced 15 million tonnes of oil and 1.1 billion cubic metres (bcm) of associated gas in Azerbaijan, BP said.

A BP-led consortium said in a statement that it spent about $236 million in operating expenditure and $552 million in capital expenditure on operations at the Azeri-Chirag-Guneshli (ACG) oilfields in the first half.

The consortium said that its Azeri units produced about 5 bcm of natural gas and 1.1 million tonnes of condensate at the Shah Deniz field.

It spent about $250 million in operating expenditure and about $798 million in capital expenditure, the majority of which was associated with the Shah Deniz II project.

Reporting by Margarita Antidze and Nailia Bagirova