August 1, 2018 / 3:37 PM / 4 months ago

BP says its Azeri oil output rises to 596,000 bpd in first half

BAKU (Reuters) - 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 meters (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; editing by Kirsten Donovan

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