Volume of Oil Production on ACG for 2017 Not Determined - BP

The volume of oil production from the block Azeri-Chirag-Guneshli (ACG) for 2017 has not been determined, the President of BP for Azerbaijan, Georgia and Turkey, Gordon Birrell, told reporters.

According to him, the main task of the consortium is the preservation of the current production volumes.

‘For 2017 the volume of production from ACG has not been defined. Discussions over this issue are going with the government of Azerbaijan,’ Birrell said.

According to him, in 2016-2017 growth in the world oil prices is not expected. In this regard, the company is building work, so as to ‘make it effective at the current prices.’

It should be noted that in H1 of 2016 BP produced the average of 655,000 barrels of oil per day from ACG (641,000 barrels in H1 of 2015).

According to the news obtained by Turan from oil-related circles, by December of this year the average daily production from ACG will fall to the level of 640-635 thousand barrels per day.

The peak production in the framework of ACG was recorded in 2010 - 42 million tons, and in 2015 the volume of production fell to 31.3 million tons. -12B--