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BP says oil production at Azeri projects drops to 524,000 bpd in first quarter

Reuters
Updated ·1-min read
Logo of BP is seen at a petrol station in Kloten

BAKU (Reuters) - BP <BP.L> said on Tuesday that oil output at its projects in Azerbaijan declined to 524,000 barrels per day (bpd) in the first quarter of 2020 from 571,000 bpd a year earlier.

Associated gas output at the Azeri-Chirag-Guneshli (ACG) oilfields was 7.9 million cubic metres in the quarter, up from 5.2 million cubic metres a year ago, the BP-led consortium said in a statement.

The oilfields account for most of Azerbaijan's oil production.

The consortium said it spent about $150 million in operating expenditure and $522 million in capital expenditure on its operations at ACG oilfields in the first quarter.

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The consortium said that its Azeri units produced about 4.7 billion cubic metres (bcm) of natural gas and 1 million tonnes of condensate at the Shah Deniz field in the first quarter, up from 4.3 bcm and about 1 million tonnes an year ago.

(Reporting by Nailia Bagirova and Margarita Antidze; Writing by Margarita Antidze; Editing by Andrew Heavens)