Capital expenditures on ACG dropped by 20% in 1H2025

In the first half of 2025, bp and its co-venturers spent about $259 million in operating expenditure and about $558 million in capital expenditure on activities for Azeri-Chirag-Deepwater Gunashli (ACG) field block located in the Azerbaijani sector of the Caspian Sea, Report informs, referring to BP-Azerbaijan.

During the reporting period, operating expenditures for ACG increased by $16 million or 6.6% year-on-year (YoY), while capital expenditures decreased by $140 million or 20% YoY.

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

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