FSUOGM: BP reduced oil production at ACG block in first half by almost 12%

Oil production at the Azeri-Chirag-Guneshli (ACG) block of fields in 1H23 amounted to around 68mn barrels (9mn tonnes), as reported by the project operator, BP Exploration (Caspian Sea) Limited. Compared to the 77mn barrels (10mn tonnes) produced in 1H22, there was an 11.7% decrease in barrel production in 1H23.

The development cost for the ACG block project reported by BP saw a 4.1% decrease, falling to $978mn in 1H23 from 1H22. Operational expenses accounted for $232mn of this total, and capital expenditure represented $746mn.

The average daily oil production for 1H23 was 375,000 barrels, which marks a decrease from the 424,000 barrels produced daily in 1H22. The breakdown of production from various platforms was as follows: 23,000 barrels per day from the Chirag platform, 98,000 bpd from Central Azeri, 91,000 bpd from Western Azeri, 61,000 bpd from East Azeri, 67,000 bpd from Deepwater Gunashli, and 35,000 bpd from Western Chirag.

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