BP Today Stopped Production at West Azeri
BP-Azerbaijan (the operator on the development of Azeri-Chirag-Guneshli) today suspended production on the platform West Azeri due to maintenance work.
"The stopping is of planned nature and is part of the annual work program for ACG. According to the plan, production from the platform West Azeri will be stopped for 22 days for effective implementation of prevention, inspection and design work. This is repair, maintenance and modification work, the implementation of which is possible only when stopping the platform," reported the press service of BP.
Note that the average daily oil production from West Azeri in Q1 was 129,000 barrels.
Recall that oil production from West Azeri began on 30 December 2005. -12D--
-
- Economics
- 21 May 2015 13:49
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review