ACG operating expenditures increase in Q1

In the first quarter of 2019, BP spent about $138 million in operating expenditure and over $279 million in capital expenditure on Azeri-Chirag-Deepwater Gunashli (ACG) activities, respectively up $36 million or 35.3% and $19 million or 7.3% in comparison to a year earlier, Report informs citing BP-Azerbaijan.

ACG participating interests are: BP (30.37 per cent), SOCAR (25.0 per cent), Chevron (9.57 per cent), INPEX (9.31 per cent), Equinor (7.27 per cent), ExxonMobil (6.79 per cent), TPAO (5.73 per cent), ITOCHU (3.65 per cent), ONGC Videsh Limited (OVL) (2.31 per cent).

BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement.