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.
Liberal candidate Lee Jae-myung is on track to win South Korea’s snap presidential election, according to a joint exit poll released Tuesday, just two months after former President Yoon Suk Yeol was ousted over his brief imposition of martial law.
Azerbaijan is quietly facilitating diplomatic efforts between Türkiye and Israel to reduce tensions in Syria, leveraging its close ties with both nations and its rising regional influence following its 2023 victory in Nagorno-Karabakh.
The Security Service of Ukraine (SBU) announced on June 3 that it struck the bridge connecting Russia to Crimea with underwater explosives.
U.S. President Donald Trump has asked Japan to partner in developing his proposed $175 billion Golden Dome missile defense system. The move could influence ongoing tariff negotiations between the two nations.
Over 200 inmates escaped from a Karachi prison late Monday after earthquake tremors caused panic, prompting guards to unlock cells, according to Pakistani officials.
In May 2025, Türkiye’s annual inflation rate declined to 35.41%, down from 37.86% in April and falling short of the market forecast of 36.1%. This represents the lowest rate recorded since November 2021, as price increases slowed across almost all categories.
Liberal candidate Lee Jae-myung is on track to win South Korea’s snap presidential election, according to a joint exit poll released Tuesday, just two months after former President Yoon Suk Yeol was ousted over his brief imposition of martial law.
Azerbaijan is quietly facilitating diplomatic efforts between Türkiye and Israel to reduce tensions in Syria, leveraging its close ties with both nations and its rising regional influence following its 2023 victory in Nagorno-Karabakh.
French President Emmanuel Macron will meet Italian Prime Minister Giorgia Meloni on Tuesday in a bid to ease tensions over Ukraine, U.S. ties, and EU trade strategies, amid growing disagreements between the two leaders.
The city of Lachin hosted a landmark cultural event on Tuesday as it officially opened its term as the Commonwealth of Independent States (CIS) Cultural Capital for 2025. The celebration drew around 100 officials and guests from six CIS member states, marking a significant step in the cultural revit
On May 28, the inauguration ceremony of Lachin International Airport was held.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
In a major blow to one of President Donald Trump’s key economic policies, a US federal court has blocked the administration’s sweeping global tariff regime, ruling that the White House overstepped its constitutional authority.
China has pledged $500 million to the World Health Organization (WHO), becoming the agency’s largest single financial contributor at a time when it faces deep budgetary constraints.
China is set to unveil the Huajiang Grand Canyon Bridge, the tallest bridge in the world, on June 30, 2025, in the remote and mountainous Guizhou province, marking a major milestone in both engineering achievement and regional development.
On the sidelines of the High-Level International Conference on Glaciers’ Preservation in Dushanbe, Tajikistan’s Foreign Minister Sirojiddin Muhriddin held a bilateral meeting with Kirti Vardhan Singh, India’s Minister of State for External Affairs, Environment, Forest, and Climate Change.
India will host the foreign ministers of five Central Asian countries on June 5–6 for the latest round of the “India–Central Asia” Foreign Ministers' Meeting, a key platform aimed at deepening strategic, economic, and regional cooperation.
In a significant step toward regional water cooperation, Kazakhstan, Tajikistan, and Uzbekistan have signed a protocol for the shared operation of the Bahri Tochik Water Reservoir from June to August 2025, during the region’s critical vegetation and irrigation period.
In May 2025, Türkiye’s annual inflation rate declined to 35.41%, down from 37.86% in April and falling short of the market forecast of 36.1%. This represents the lowest rate recorded since November 2021, as price increases slowed across almost all categories.
Liberal candidate Lee Jae-myung is on track to win South Korea’s snap presidential election, according to a joint exit poll released Tuesday, just two months after former President Yoon Suk Yeol was ousted over his brief imposition of martial law.
Azerbaijan is quietly facilitating diplomatic efforts between Türkiye and Israel to reduce tensions in Syria, leveraging its close ties with both nations and its rising regional influence following its 2023 victory in Nagorno-Karabakh.
French President Emmanuel Macron will meet Italian Prime Minister Giorgia Meloni on Tuesday in a bid to ease tensions over Ukraine, U.S. ties, and EU trade strategies, amid growing disagreements between the two leaders.
The city of Lachin hosted a landmark cultural event on Tuesday as it officially opened its term as the Commonwealth of Independent States (CIS) Cultural Capital for 2025. The celebration drew around 100 officials and guests from six CIS member states, marking a significant step in the cultural revit
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