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.
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