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ACG costs exceed $0.5 bn for 3 months

02.06.2020,12:33


June 2, Fineko/abc.az. BP has released a report on Azerbaijan's sustainable development for 2019.

According to the report, for 3 months operating expenses on Azeri-Chirag-Guneshli Project amounted to $150 million and capital expenditures $522 million.

The share of partners in ACG is: BP 30.37%, AzAÇG (SOCAR) - 25%, MOL 9.57% (since 16 April 2020 has replaced Chevron), Inpex 9.31%, Equinor 7.27%, ExxonMobil 6.79%, TPAO 5.73%, Itochu 3.65% and ONGC Videsh Limited (OVL) 2.31%.

Recall that on 14 September 2017 the government of Azerbaijan and SOCAR, together with international partners, signed an agreement on joint development of ACG and share of production. The agreement was ratified by the Azerbaijani Parliament on 31 October of the same year. BP Exploration (Caspian Sea) Limited is the operator of the ACG production sharing agreement on behalf of the contractors.