BP offshore

BP’s ACG oil production down, gas up

BAKU, February 20, 2015 – The Azeri-Chirag-Guneshli (ACG) field produced an average of 638,000 barrels of oil per day in 2014, a slight decrease from 2013’s 655,370 barrels per day, according to figures released by BP on Thursday. In 2014, the field’s gas production averaged 7.55 mcm (267 mcf), up from 6 mcm (212 mcf) in 2013.


The company reported spending $1 billion in operating expenditure and $2.3 billion in capital expenditure on the ACG field, which contributes about 4 percent of BP’s global production, in 2014. Last month the company reduced its staff in the country by 8 percent to cut costs.

The production-sharing agreement granting BP operatorship of ACG runs through 2024, but the super-major’s Azerbaijan president, Gordon Birrell, said last year that the contract needed to be extended to allow for the investment needed to keep the field’s production stable.

The country’s total monthly oil exports were up 3.7 percent year-on-year in January, the Azeri State Customs Committee announced Thursday.

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