533 mln USD spent on ACG project in Q1 of 2016

Baku. 24 May. REPORT.AZ/ In the first quarter of 2016, operating expenses for the project "Azeri-Chirag-Guneshli" (ACG) totaled approximately 137 mln USD, capital expenditure -. 396 mln USD..

Report informs referring to BP-Azerbaijan, ACG expenses decreased YoY by 15.4%.

During the reporting period, 5 and 2 water wells drilled in ACG.

Agreement on the joint development and sharing production from ACG block of fields was signed on September 20, 1994 in Baku.

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%).