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.
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The UN's International Maritime Organization has paused escort operations through the Strait of Hormuz after a cargo ship was reportedly attacked near Oman, with two U.S. officials accusing Iran of the attack.
Tens of thousands of people are still unaccounted for after two powerful earthquakes struck Venezuela. At least 589 people have been confirmed dead and hundreds are believed to be trapped under rubble, as emergency crews and international rescue teams race to respond.
An aircraft roughly the size of a car crashed into Beijing's tallest skyscraper on Friday evening, triggering a major emergency response and a heavy police presence as authorities sealed off the area and gave no immediate explanation for the incident.
Montenegrin police, working alongside the United States' Federal Bureau of Investigation, have arrested an Iranian national accused of carrying out a series of cyberattacks that allegedly caused an estimated $3.4 billion in damage to U.S. infrastructure.
An earthquake of magnitude 6.9 struck Japan's northeast coast on Thursday, but no tsunami warning was issued, no injuries were immediately reported and no irregularities were found at nuclear facilities, the authorities said.
As Western Europe battles a deadly heatwave that has shattered temperature records, disrupted transport and power supplies, and forced the closure of schools and cultural landmarks, attention is turning to whether El Niño is playing a role in the extreme conditions.
Israel's defence minister said on Wednesday Israeli troops will not withdraw from southern Lebanon, highlighting a hurdle to Iran-U.S. peace talks, as the top U.S. diplomat tours the Middle East to win over allies sceptical about a proposed deal.
The U.S. Senate rejected a resolution on Wednesday that would have directed President Donald Trump to remove U.S. forces from hostilities against Iran unless Congress formally authorised military action.
The Kremlin has denied a Wall Street Journal report claiming Moscow is pressuring Belarus to support an expanded Russian military campaign in Ukraine.
The UN's International Maritime Organization has paused escort operations through the Strait of Hormuz after a cargo ship was reportedly attacked near Oman, with two U.S. officials accusing Iran of the attack.
Kazakhstan has not received an official request from Russia for petrol supplies, Energy Minister Yerlan Akkenzhenov said, as fuel shortages and sales restrictions in Russia raise concerns over fuel supplies across Central Asia.
Iran's Ministry of Foreign Affairs on Friday (26 June) condemned as "interventionist, irresponsible and provocative" a statement issued following a joint meeting of foreign ministers from the U.S. and the Gulf Cooperation Council (GCC) in Manama, Bahrain.
Azerbaijan Airlines (AZAL) has taken delivery of its first Airbus A321neo, marking another milestone in the carrier's long-term fleet modernisation programme aimed at improving efficiency, expanding capacity and enhancing the passenger experience.
Pakistan is seeking to revive economic ties with Iran by reopening transport links and reassessing imports of discounted Iranian crude oil, as recent regional de-escalation raises hopes of broader economic cooperation.
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