Capital expenditures on ACG decrease by nearly 28%

In the first quarter of 2025, approximately $115 million in operating expenses and nearly $251 million in capital expenditures were spent on activities related to the Azeri-Chirag and Deepwater Gunashli (ACG) fields located in the Azerbaijani sector of the Caspian Sea, Report informs, citing BP-Azerbaijan.

ACG operating expenses remained at the same level compared to the corresponding period of last year, while capital expenditures decreased by $96 million or 27.7%.

ACG is Azerbaijan's largest oil field block. The first production sharing agreement for the development of the block was signed on September 20, 1994. On September 14, 2017, a new agreement was signed for the joint operation of these fields and production sharing. This agreement provides for the development of the fields until the end of 2049.

BP (30.37%), SOCAR (31.65%), MOL (9.57%), INPEX (9.31%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.92%) are shareholders in ACG.