1.1 bln spent on ACG project in first half year

Baku. 22 August. REPORT.AZ/ In the first half of 2016, approximately $260 million were spent in operating expenditure and $828 million in capital expenditure on ACG activities.

Report informs it is noted in "BP-Azerbaijan" s report.

During the first half of 2016 transaction costs were less by 27.6% while capital expenditure by 12.8%, compared to the corresponding period of last year.

Notably, the Production Sharing Agreement (PSA) signed on September 20, 1994 in Baku by the Government of Azerbaijan and a consortium of 11 foreign oil companies

Participants in the project are the companies BP (35,8% - operator), SOCAR(11,6%), Chevron (11,3%), Inpex (11%), Statoil (8,6%), ExxonMobil (8%), TPAO (6,8%), Itochu (4,3%), ONGC Videsh Ltd. (2.7%).