BP intends to produce over 42mln tons of Azeri Light oil in 2010

BP Company plans to produce 42.1 million tons of light oil in 2010 under the project to develop the Azeri-Chirag-Guneshli (ACG) bloc of fields in the Azerbaijani sector of the Caspian Sea, BP Azerbaijan President Rashid Javanshir said at the news conference today.

"During the three quarters of 2010, production of Azeri Light oil on the ACG amounted to 30.8 million tons, while the forecast for 2010 is 42.1 million tons," Javanshir said.

The total capital expenditures on the ACG project hit $1.149 billion since 2010, while the forecast for is $1.584 billion. The operating expenses for the period totaled $ 270 million (587 million provided for 2010).

ACG participating interests are: BP (operator - 37.43%), Chevron (11.27%), SOCAR (10%), INPEX (10.96%), Statoil (8.56%), ExxonMobil (8%), TPAO (6.75%), ITOCHU (4.30%), Hess (2.72%).


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