BP ACG Output Fell in First Quarter, Shah Deniz Production Grew

A BP Plc-led group pumped less crude oil from the Azeri-Chirag-Guneshli field in Azerbaijan’s section of the Caspian Sea in the first quarter than a year earlier.

ACG produced 8.8 million metric tons of oil (711,800 barrels a day), down from 9.6 million tons a year earlier, the BP office in the Azeri capital of Baku said by e-mail today. It didn’t give a reason for the decline.

Elshad Nasirov, vice president of State Oil Co. of Azerbaijan, a partner in ACG, said in a May 1 interview that the country cut oil output to ensure the peak period of production continues for the next 10 to 15 years.

The Caspian natural-gas field of Shah Deniz, also operated by BP, produced 2 billion cubic meters of gas, up from 1.84 billion cubic meters a year earlier, BP said.

Azerbaijan, the third-largest oil producer in the former Soviet Union after Russia and Kazakhstan, pumped 45.6 million tons of oil and 25.8 billion cubic meters of gas last year.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.