Bp Calculates Its Oil And Gas Production From Caspian Sea Fields

(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 10. bp has produced 4.5 billion barrels of oil and 257 billion cubic meters of gas from the Caspian Sea fields, including 60 billion cubic meters of gas from the Azeri-Chirag-Gunashli (ACG) field, and delivered them to the state during these years, bp's Vice President for the Caspian Region Bakhtiyar Aslanbayli said at the 3rd Industrial Safety Summit, jointly organized by the Ministry of Emergency Situations, SOCAR, and the Azerbaijan Industrial Safety Association (AISA), in Baku today, Trend reports.

According to him, bp Azerbaijan has been operating in the country for 33 years, and during this time it has been entrusted with the management of the state's top strategic energy resources.

"The gas produced from the ACG field accounts for approximately 25% of the total gas production in the Caspian Sea. This shows how great the potential of these fields is," the company official emphasized.

He emphasized that a key highlight of the initiative is the organization's unwavering commitment to operational safety, adhering meticulously to regulatory frameworks, thereby achieving a track record devoid of significant incidents.

"During our activities in Azerbaijan, we have worked together with our local and international colleagues in the field of safety and development, ensuring the application of the highest global standards," Aslanbayli added.

The Azeri-Chirag-Deepwater Gunashli (ACG) field, situated approximately 100 km east of Baku, is the largest oilfield in the Azerbaijani portion of the Caspian basin. In 2024, bp and its co-venturers incurred around $535 million in operating expenses and almost $1,293 million in capital expenditures for ACG activities. In 2024, a novel four-dimensional (4D) high-definition ocean bottom node seismic program was initiated on ACG. The initiative, concentrating on the Balakhany and Fasila reservoirs, encompasses an area of 740 square kilometers for sources and 507 square kilometers for receivers, with an estimated total cost of around $370 million and a length of five years (2024-2028). This is bp's largest seismic acquisition commitment globally, encompassing region size, cost, and program duration.

MENAFN10122025000187011040ID1110462109