BP and partners in January-September 2016 produced in the contract area Azeri-Chirag-Guneshli (ACG), 23.76 million tons of oil. Turan IA learned this from sources in the government.
Note that in the first nine months of 2015 were produced 23.57 million tons of raw materials. Thus, in the current year, BP (operator of the project) not only stabilized production from the contract area, but also for the first time since 2011 managed to increase its volume by 190,000 tons or 0.8%.
The interviewer told Turan that in order to achieve such results BP and partners this year pumped into oil wells around 7.6 bcm of associated gas. "Yes, the Azerbaijani side was transferred smaller volumes of gas, but the extracted oil was much more than the forecast and it is beneficial to both the state and companies," said the government source.
At the end of 2015 31.3 million tons of oil were produced at ACG, which is 0.2 million tons less than in 2014. -12B--
Economics
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Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
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The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
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BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
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In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
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