TODAY.AZ / Business

During first half of 2006 BP Azerbaijani capital expenditure equaled $1, 180 mln

21 July 2006 [23:24] - TODAY.AZ
Today BP Azerbaijan President, David Woodward gave a quarterly media briefing.

According to APA, he said that during the first half of 2006 Azeri-Chirag-Guneshli (ACG) spent $118mn of the planned $227mn operating expenditures and $1, 180mn pf the planned $2, 552 mn capital expenditures for 2006.

"In this period we produced about 411,000 barrels per day average from Chirag, Cebtral Azeri and West Azeri platforms in total. Our current forecast for 2006 is that we will be able to deliver 448,000 barrels per day average for the full year with 141,000 barrels of oil per day average produced from Chirag, 226,000 barrels from Central Azeri and 81,000 barrels from West Azeri."

While we had expected our total daily production rate from the three platforms to exceed half a million barrels per day by the end of this year, we met this target on June 12 when we achieved a new record daily production rate of over 500,000 barrels per day. This is the repeat of the highest production rate Azerbaijan has ever achieved in its long and remarkable history of oil production.

Chirag currently has 20 wells: 14 oil producers and 6 water injectors. During the first half of 2006, the platform produced about 27.5 million barrels (3.7 million tonnes) of oil, reflecting good production performance from the wells and reservoir. Since the start of production in November 1997 Chirag has produced about 358 million barrels (48.3 million tonnes) of oil.

Chirag has operated with very few interruptions since the commencement of development drilling and first oil production in 1997. It currently employs about 250 people of whom over 85% are Azerbaijan nationals, including both Offshore Operations Engineers in senior leadership roles on the platform.

Since the beginning of this year the production activities on Chirag have continued in accordance with the plan for 2006 with an operating efficiency exceeding 96%.

A 10-day shut down is scheduled for October this year as part of a platform enhancement project to replace the gas dehydration unit, increase water injection capacity, and undertake equipment maintenance works to improve efficiency and reliability.

Central Azeri (CA) is currently producing from 10 wells. The platform operating efficiency was 87.4% during the first half.

By the end of June, 2006 production from CA had been about 36 million barrels (about 5 million tonnes). Production will continue to ramp-up through 2006 as we drill and complete new wells from the platform.

"West Azeri (WA) today produces from three pre-drilled wells. Since the start-up of production in early January the platform has produced about 11 million barrels (about 1.5 million tonnes) of oil. The first platform drilled well was put into operation in mid-July. Production will increase through 2006 as we continue to drill more wells from the platform."


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