BP Azerbaijan makes public 2013 results

  14 February 2014    Read: 672
BP Azerbaijan makes public 2013 results
British BP, which operates a number of major oil and gas projects on behalf of its co-ventures in Azerbaijan, Georgia, and Turkey, made public the results of 2013.
The company`s February 13 report said the giant Azeri-Chirag-Gunashli (AGC) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea produced over 239 million barrels (32.2 million tons) of oil.

The daily production in the ACG fields was an average of 655,370 barrels per day (bpd), BP said.

In 2013, the volume of operational expenditures and capital expenditures within the project reached $772 million and $2,833 million, respectively.

The company is expected to spend $1,052 million in operating expenditures, and $2,068 million in capital expenditures for ACG activities in 2014.

At the end of the year, a total of 81 oil wells were producing, while 37 wells were used for injection in the ACG field, the report said.
The report also said in 2013, BP, as operator of the ACG field, continued to deliver associated gas to the Sangachal terminal and from there into Azerigas` national grid system for domestic use.

BP also said ACG associated gas flaring was 2.6 percent by the end of 2013, which showed a 45 percent decrease from 2012.
As a result of the measures taken for further improvement, the rate of ACG associated gas utilization has reached 97.4 percent, which is in line with the best European standards.

"BP as operator of ACG will continue its efforts to minimize associated gas flaring while maintaining safe operations," the report said.
In 2013, BP delivered around 6 million cubic meters of ACG associated gas to SOCAR on a daily basis, which made a total of 2.19 billion cubic meters.

ACG delivered 12 oil production wells, one gas injector, and three water injector wells. In addition, one data acquisition well was successfully delivered.

Furthermore, in 2013, the giant Shah Deniz gas condensate field in the Caspian Sea produced about 9.8 billion cubic meters of gas and 2.48 million tons (19.6 million barrels) of condensate.
The daily production at the field amounted to about 26.8 million cubic meters of gas and 53,740 barrels of condensate.

"Since the start of Shah Deniz production in late 2006 till the end of 2013, about 47.3 billion standard cubic meters of Shah Deniz gas, and about 99.5 million barrels (12.6 million tons) of Shah Deniz condensate has been produced," BP said.

According to the report, the volume of operating expenditures and capital expenditures in 2013 amounted to $200 and $1,700 million respectively. In 2014, the company plans to spend around $200 million on operating expenditure and about $4,000 million on capital expenditure for Shah Deniz activities.

Also, in 2013, the Baku-Tbilisi-Ceyhan pipeline (BTC) exported about 247.2 million barrels (33 million tons) of crude oil.
In 2013, BTC spent over $75 million in capital expenditures. In 2014, BTC capital expenditures are expected to be about $119 million.
The BTC pipeline currently carries mainly ACG oil and Shah Deniz condensate from Azerbaijan. In addition, crude oil from Turkmenistan continues to be transported via BTC.

In 2013, the South Caucasus Pipeline`s (SCP) daily average throughput was about 13.4 million cubic meters of gas or 81,600 barrels of oil equivalent per day.

SCP spent around $50 million in operating expenditure and $250 million in capital expenditure. In 2014, operating expenditure is expected to be $50 million.

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