Azerbaijan produced 588,000 barrels of oil per day (b/d) from Azeri-Chirag-Gunashli block, BP report on 2017 year-end results reads.

At the top of the yr, one hundred fifteen oil wells were producing, whereas fifty four wells have been used for fuel and water injection.

ACG collaborating interests are: BP (30.37 per cent), SOCAR (25.Zero per cent), Chevron (9.57 per cent), INPEX (9.31 per cent), Statoil (7.27 per cent), ExxonMobil (6.79 per cent), TPAO (5.73 per cent), ITOCHU (3.Sixty five per cent), ONGC Videsh Limited (OVL) (2.31 per cent).

In 2017, BP spent more than $456 million in operating expenditure and about $1.176 billion in capital expenditure on ACG actions.

On September 14, 2017 the Azerbaijan Authorities and SOCAR, along with the international co-venturers signed the amended and restated refinery of petroleum ACG PSA. The contract was ratified by the Parliament of Azerbaijan on October 31.

Further, the report says that Azerbaijan produced about 10.2 billion commonplace cubic metres (bcm) of gasoline and a couple of.4 million tons (about 19 million barrels) of condensate the Shah Deniz field in 2017 compared to round 10.7 billion cubic meters of fuel and 2.5 million tons of condensate in 2016.

The prevailing Shah Deniz facilities production capability is at the moment 30.0 million normal cubic metres of gas per day or around 10.9bcma.

BP Azerbaijan is the operator of the Shah Deniz area.

In August 2017 manufacturing on the Shah Deniz subject was suspended in connection with the preventive work on the platform.

In 2017, Shah Deniz spent roughly $451 million in working expenditure and about $2.88 billion in capital expenditure, the majority of which was associated with the Shah Deniz 2 undertaking.

Shah Deniz field’s reserves are estimated at 1.2 trillion cubic meters of fuel.

A contract for improvement of the Shah Deniz offshore subject was signed on June four, 1996.

The shareholders within the contract are BP (operator – 28.8 p.c), AzSD (10 percent), SGC Upstream (6.7 p.c), Petronas (15.5 %), Lukoil (10 percent), NIOC (10 p.c) and TPAO (19 %).

The report is also touching upon Shah Deniz 2 project and South Caucasus Pipeline Growth (SCPX), saying that 2017 was an ideal yr for the Shah Deniz 2 and South Caucasus Pipeline Expansion (SCPX) projects.

Each initiatives achieved vital development, commissioning and handover milestones throughout the gas value chain, safely executing over forty five million man-hours of work in the process. The projects are now entering the start-up phase in the run as much as achieving first gas in 2018.

Shah Deniz 2 first gas scope is now 99 per cent complete, when it comes to engineering, procurement, construction and commissioning.

The South Caucasus Pipeline (SCP) spent more than $29 million in operating expenditure and about $784 million in capital expenditure.

The pipeline has been operational since late 2006, transporting Shah Deniz gasoline to Azerbaijan, Georgia and Turkey.

SCP’s day by day common throughput was about 20.5 million cubic metres of gas per day throughout 2017.

The SCP Co. shareholders are: BP (28.Eight per cent), TPAO (19 per cent),AzSCP (10.0 per cent), SGC Midstream (6.7 per cent), PETRONAS (15.5 per cent), LUKOIL (10 per cent) and NICO (10 per cent).

BP reviews that Baku-Tbilisi-Ceyhan (BTC) spent roughly $133 million in working expenditure and about $29 million in capital expenditure in 2017.

Since the 1,768km BTC pipeline turned operational in June 2006 until the tip 2017 it carried a total of about 2.87 billion barrels (about 383 million tonnes) of crude oil loaded on 3,758 tankers and despatched to world markets.

During 2017, BTC exported around 256 million barrels (about 34 million tonnes) of crude oil loaded on 333 tankers at Ceyhan.

The BTC pipeline at present carries mainly ACG crude oil and Shah Deniz condensate from Azerbaijan. In addition, different volumes of crude oil and condensate proceed to be transported through BTC, including volumes from Turkmenistan and Kazakhstan.

The BTC Co. shareholders are: BP (30.1 per cent); AzBTC (25.00 per cent); Chevron (eight.Ninety per cent); Statoil (eight.71 per cent); TPAO (6.53 per cent); Eni (5.00 per cent); Total (5.00 per cent), ITOCHU (3.Forty per cent); INPEX (2.50 per cent), ExxonMobil (2.50 per cent) and ONGC (BTC) Limited(2.36 per cent).

Additional, the report offers info concerning the Sangachal Terminal.

During 2017, the Sangachal terminal exported greater than 283 million barrels of oil, together with third party volumes. Of this, more than 253 million barrels have been exported via BTC, 28 million barrels by means of the Western Route Export Pipeline (WREP), and more than 2 million barrels by way of a separate condensate export line, based on the report.

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