Last year, approximately $1.83 billion was spent on operations at the Azeri-Chirag-Gunashli (ACG) oil and gas field block, according to BP's annual report on its activities in Azerbaijan.
Of this amount, around $535 million was allocated for operational expenses, while $1.293 billion was spent on capital expenditures.
"In mid-April, the first oil was extracted from the new ACE platform, the seventh installed at the giant ACG field in the Caspian Sea. The first oil from the ACE platform came from the first well drilled at the end of 2023. In 2024, two additional production wells were brought online, increasing ACE's output to approximately 26,000 barrels per day by year-end," the report stated.
The report also highlighted that stable and safe production continued at ACG throughout 2024. The average daily production from ACG was around 342,000 barrels, totaling approximately 125 million barrels (16 million tons) for the year. By the end of the year, ACG had 148 active oil production wells, 46 water injection wells, and seven gas injection wells.
Additionally, during the year, 14 new oil production wells, three water injection wells, one gas injection well, and one well for reinjecting drilling waste were completed.
Brazilian Finance Minister Fernando Haddad urged the European Union to consider the political significance of its trade deal with Mercosur rather than focusing solely on economic factors.
French far-right leader Marine Le Pen said on Monday that a court's decision to bar her from office for misuse of European funds ruled her out of the 2027 presidential election, adding she had no confidence in an appeal being heard before the vote.
On March 31, 2025, European diplomats met in Madrid to discuss the ongoing war in Ukraine and the need for Russia to agree to a ceasefire.
Britain's King Charles is resuming public duties this week after a brief hospital visit due to side effects from his cancer treatment. Following a restful weekend, he is preparing for a regular working week at Windsor Castle, with some appointments rescheduled ahead of his state visit to Italy.
U.S. President Donald Trump announced on Sunday that his upcoming reciprocal tariffs will apply to all nations, rather than just targeting the 10 to 15 countries with the largest trade imbalances. Trump plans to unveil the tariff package on Wednesday, calling it “Liberation Day.”
Brazilian Finance Minister Fernando Haddad urged the European Union to consider the political significance of its trade deal with Mercosur rather than focusing solely on economic factors.
French far-right leader Marine Le Pen said on Monday that a court's decision to bar her from office for misuse of European funds ruled her out of the 2027 presidential election, adding she had no confidence in an appeal being heard before the vote.
On March 31, 2025, European diplomats met in Madrid to discuss the ongoing war in Ukraine and the need for Russia to agree to a ceasefire.
President Trump confirmed he is serious about a potential third term, despite constitutional limits, saying it is “far too early” to decide. While U.S. presidents are restricted to two terms, Trump allies are exploring ways to challenge this rule ahead of the 2028 election.
Royal Australian Air Force (RAAF) pilots, monitoring a Chinese navy warship as it navigated Australian waters, were alerted to a live-fire exercise via a civilian radio broadcast, defense officials revealed on Tuesday.
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As the world shifts toward clean energy at an ever-accelerating pace, large economies are scrambling to secure reliable supply chains for rare earth minerals. These minerals, once seen as mere industrial components, have become a political tool in the global power struggle
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
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Kyrgyzstan and Tajikistan's presidents signed a protocol ratifying a border agreement in Khujand, Tajikistan. They also inaugurated a 500 kV power line under CASA-1000, enhancing regional electricity trade. Their meeting preceded a trilateral summit with Uzbekistan's president.
Brazilian Finance Minister Fernando Haddad urged the European Union to consider the political significance of its trade deal with Mercosur rather than focusing solely on economic factors.
French far-right leader Marine Le Pen said on Monday that a court's decision to bar her from office for misuse of European funds ruled her out of the 2027 presidential election, adding she had no confidence in an appeal being heard before the vote.
On March 31, 2025, European diplomats met in Madrid to discuss the ongoing war in Ukraine and the need for Russia to agree to a ceasefire.
President Trump confirmed he is serious about a potential third term, despite constitutional limits, saying it is “far too early” to decide. While U.S. presidents are restricted to two terms, Trump allies are exploring ways to challenge this rule ahead of the 2028 election.
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