The daily oil output was 651,000 barrels during the reporting period.
Azerbaijan produced 31.3 million tons of Azeri Light oil in 2015 versus 31.5 million tons in 2014.
Operating expenses within the project totaled $137 million in the first quarter of 2016, while the capital expenditures were $396 million.
The contract for development of the ACG block of fields was signed in 1994. The proven oil reserve of the block nears one billion tons.
The shareholders of the project are: BP - 35.78 percent, Chevron - 11.27 percent, Inpex - 10.96 percent, AzACG - 11.65 percent, Statoil - 8.55 percent, Exxon - 8 percent, TPAO - 6.75 percent, Itochu - 4.3 percent and ONGC - 2.72 percent.
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