Baku: In the first quarter of 2025, bp and its co-venturers spent about $115 million in operating expenditure and about $251 million in capital expenditure on ACG activities.

According to Azeri-Press News Agency, bp’s report on its operations in Azerbaijan for the first quarter of the current year highlighted the progress of the 4-dimensional high-definition ocean bottom node seismic programme on ACG. This programme involved processing data acquired in 2024 and preparing for the second year of data acquisition set to commence in May.

During the quarter, ACG continued to safely deliver stable production, averaging about 331,000 barrels per day. This total production included contributions from several platforms: Chirag (21,000 b/d), Central Azeri (87,000 b/d), West Azeri (76,000 b/d), East Azeri (43,000 b/d), Deepwater Gunashli (54,000 b/d), West Chirag (25,000 b/d), and ACE (25,000 b/d).

At the end of the first quarter, 145 oil wells were actively producing, while 44 were designated for water injection and eight for gas injection.

BP remains the operator of the ACG block with a 30.37% stake. Other shareholders include AzACG (SOCAR) with 31.65%, MOL with 9.57%, Inpex with 9.31%, Equinor with 7.27%, ExxonMobil with 6.79%, TPAO with 5.73%, Itochu with 3.65%, and ONGC Videsh Ltd. (OVL) with 2.92%. A revised and extended agreement signed in 2017 allows the project to continue through 2050, enhancing its development potential.