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BP's total investments in Azerbaijan hit $75 billion

BP's total investments in Azerbaijan hit $75 billion

Baku, June 4 - Neftegaz.RU. The total volume of BP's capital expenditure on Azerbaijan's oil & gas projects between 1995 and 2019 amounted to $75 billion, BP said in its 'Sustainable report of BP in Azerbaijan in 2019, AzerNews reported.

The invested projects include Azeri-Chirag-Guneshli (ACG) oil fields, Baku-Tbilisi-Ceyhan (BTC) oil pipeline, Shah Deniz and South Caucasus Pipeline (SCP) gas projects. BP's operating and capital expenditures on ACG field were $567 million and $1.746 million accordingly. Some 500.9 million tons of oil were produced from the ACG block of fields during the whole period from the beginning of development to the end of 2019.

As of the end of 2019, 125 producing, 46 water and 7 gas injection wells were in operation in ACG block. Furthermore, 116.8 billion cu m of gas and 28.2 million tons of condensate were produced from Shah Deniz field during the operation period. Out of which 16.8 billion cu m of gas and 3.6 million tons of condensate were produced in 2019.

Shah Deniz operating and capital expenditures in 2019 amounted to $544 million and $1.1 billion accordingly, the majority of which was associated with the Shah Deniz 2 project.

Moreover, in 2019, the Sangachal terminal exported 235 million barrels of oil through Baku-Tbilisi-Ceyhan pipeline and 28 million barrels of oil through Western Route Export pipeline. In addition, over 45 million cu m of Shah Deniz gas were exported from terminal daily during 2019.

Additionally, since the beginning of operation in 2006 until the end of 2019, BTC carried a total of more than 3.35 billion barrels of crude oil loaded on 4.381 tankers and sent to world markets. South Caucasus Pipeline's daily average throughput was 29 million cu m of gas per day during 2019.

Author: Ayya Lmahamad

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