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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Start your day informed with AnewZ Morning Brief: here are the top news stories for February 13th, covering the latest developments you need to know.
Indian Prime Minister Narendra Modi arrived in the United States on Wednesday (February 12) for a two-day visit, where he is set to hold high-stakes talks with President Donald Trump on trade and tariffs.
Azerbaijan has filed a lawsuit against Armenia in the Permanent Court of Arbitration in The Hague over what it says is evidence of extensive environmental destruction in areas of Azerbaijan once controlled by Yerevan.
Greece’s parliamentary speaker Konstantinos Tasoulas was elected as new president of the Hellenic Republic in the fourth round of voting.
Azerbaijan has filed a case against Armenia at the Permanent Court of Arbitration in The Hague, accusing it of severe environmental damage during its occupation of Azerbaijani territories—a move marking the first inter-state arbitration under the Bern Convention.
Ankara and Jakarta have strengthened their "strategic partnership" on Wednesday by signing 13 bilateral agreements to mark 75-year anniversary of diplomatic relations.
The Sarandí stream in Buenos Aires, Argentina, turned bright red on Thursday for unknown reasons, raising concerns among authorities and residents. The waterway, which flows into the Río de la Plata, is under investigation to determine the cause.
Uzbekistan’s flag carrier has announced airline’s plan to purchase a dozen of aircrafts from Boeing and Airbus, marking a significant milestone in upgrading and expanding its fleet.
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Azerbaijan has filed a lawsuit against Armenia in the Permanent Court of Arbitration in The Hague over what it says is evidence of extensive environmental destruction in areas of Azerbaijan once controlled by Yerevan.
Azerbaijan has filed a case against Armenia at the Permanent Court of Arbitration in The Hague, accusing it of severe environmental damage during its occupation of Azerbaijani territories—a move marking the first inter-state arbitration under the Bern Convention.
Ankara and Jakarta have strengthened their "strategic partnership" on Wednesday by signing 13 bilateral agreements to mark 75-year anniversary of diplomatic relations.
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President Recep Tayyip Erdoğan arrived in Islamabad late Wednesday (February 12) for a two-day official visit. He was welcomed at Nur Khan Airbase by President Asif Ali Zardari, Prime Minister Shehbaz Sharif, and senior government officials.
Azerbaijan has filed a lawsuit against Armenia in the Permanent Court of Arbitration in The Hague over what it says is evidence of extensive environmental destruction in areas of Azerbaijan once controlled by Yerevan.
Greece’s parliamentary speaker Konstantinos Tasoulas was elected as new president of the Hellenic Republic in the fourth round of voting.
Azerbaijan has filed a case against Armenia at the Permanent Court of Arbitration in The Hague, accusing it of severe environmental damage during its occupation of Azerbaijani territories—a move marking the first inter-state arbitration under the Bern Convention.
Ankara and Jakarta have strengthened their "strategic partnership" on Wednesday by signing 13 bilateral agreements to mark 75-year anniversary of diplomatic relations.
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