BP releases report on H1 of 2009

Chirag had 19 wells in operation (13 oil producers and 6 water injectors) and during the first half it produced on average about 111,700 b/d.

Central Azeri (CA) had 18 wells (13 oil producers and 5 gas injectors) and during the first half it produced 173,200 b/d. A comprehensive review of the gas release incident that had occurred last September and subsequent remedial works resulted in bringing the level of production on CA to over 220,000 b/d from 12 wells.

West Azeri (WA) had 17 wells (12 of which are oil producers and 5 water injectors) and during the first half it produced around 266,800 b/d.

East Azeri (EA) had 13 wells (9 of which are producers and 4 water injectors) and during the first half it produced around 142,800 b/d. Deep Water Gunashli (DWG) had 17 wells (9 producers and 8 water injectors) and during the first half it produced around 111,600 b/d of oil.

During the first half of 2009 ACG spent about $348 million in operating expenditure and $488 million in capital expenditure. For the full year company expects to spend about $ 839 million in operating expenditure and $1,639 million in capital expenditure on ACG activities.

ACG participating interests are BP (operator - 34.1%), Chevron (10.2%), SOCAR (10%), INPEX (10%), StatoilHydro (8.6%), ExxonMobil (8%), TPAO (6.8%), Devon (5.6%), ITOCHU (3.9%), Hess (2.7%).

/Trend Capital/