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.
The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secre...
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as t...
At least 22 people have been killed - including children - and 35 others injured after a truck carrying Afghan returnees overturned in eastern Afghani...
U.S. Defense Secretary Pete Hegseth has urged Asian allies to increase military spending, warning of growing concern over China’s rapid military exp...
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off...
The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secretary Gilberto Teodoro said on Saturday (30 May).
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as the latest sign of deteriorating relations between the longtime allies ahead of Armenia's parliamentary election on 7 June.
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 30 May, covering the latest developments you need to know.
A group of Azerbaijani civil society organisations has called for increased scrutiny of Swiss building materials giant Holcim, citing court rulings and ongoing investigations linked to its subsidiary Lafarge's activities during the Syrian conflict.
The World Health Organization (WHO) says ongoing conflict, funding pressures and international travel restrictions are complicating efforts to contain a fast-growing Ebola outbreak in the Democratic Republic of Congo (DRC).
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
Russia and Kazakhstan signed 15 agreements during President Vladimir Putin’s state visit to Astana on Thursday (28 May), including deals on Kazakhstan’s first nuclear power plant and expanded oil cooperation with Russia.
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as the latest sign of deteriorating relations between the longtime allies ahead of Armenia's parliamentary election on 7 June.
At least 22 people have been killed - including children - and 35 others injured after a truck carrying Afghan returnees overturned in eastern Afghanistan, local officials say.
A renewed wave of U.S. diplomatic activity in the South Caucasus highlights Washington’s growing focus on regional connectivity, trade and security, according to Associate Professor George Mchedlishvili of European University in Tbilisi.
Kyrgyzstan has signed a series of cooperation agreements with China and Belarus at the Fifth Forum of Regional Leaders of Shanghai Cooperation Organisation (SCO) member states, underlining the country's growing economic engagement within the regional bloc.
A group of Azerbaijani civil society organisations has called for increased scrutiny of Swiss building materials giant Holcim, citing court rulings and ongoing investigations linked to its subsidiary Lafarge's activities during the Syrian conflict.
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