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BP-Led ACG Field in Azerbaijan Reports Lower Nine-Month Output

BP Plc (BP/), which drew criticism from the Azeri president for failing to stem a decline in output from the country’s biggest oilfield, said production at Azeri-Chirag- Guneshli fell in the first nine months of the year.

The field, also known as ACG, produced 25.3 million metric tons, or an average of 684,000 barrels a day. That represented a drop of 9.3 percent from a year earlier, BP’s office in the Azeri capital of Baku said by e-mail today. It gave no reason for the decline.

President Ilham Aliyev last month blamed “grave mistakes” by BP for the “unexpected” decline at ACG, which accounted for 78 percent of the nation’s total output last year. BP has since replaced regional executives and promised to bring in its best experts from around the world to address the “technical challenges” presented by the field.

Output from the Caspian natural-gas field of Shah Deniz, also led by BP, grew 15 percent to 5.2 billion cubic meters, the company said.

Azerbaijan, the largest oil producer in the former Soviet Union after Russia and Kazakhstan, saw its total crude production fall 7.8 percent to 32.7 million tons in the first nine months. Gas output climbed 0.4 percent to 6.5 billion cubic meters in the third quarter from a year earlier, State Oil Co. of Azerbaijan said last month.

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

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