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Share Price: 480.80
Bid: 480.75
Ask: 480.85
Change: -7.35 (-1.51%)
Spread: 0.10 (0.021%)
Open: 491.60
High: 494.35
Low: 480.45
Prev. Close: 488.15
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BP's Azeri oil output down in H1 y/y

Fri, 15th Aug 2014 05:53

BAKU, Aug 15 (Reuters) - Output from Azerbaijan'sAzeri-Chirag-Guneshli (ACG) oilfields fell to an average 656,000barrels per day (bpd) in the first half of 2014 from 672,000 bpdin the same period last year, BP-Azerbaijan said in a statement.

A drop in production at the ACG fields, which account formost of Azerbaijan's output, has raised concern in the formerSoviet republic, which depends heavily on them for revenue. Lastyear President Ilham Aliyev accused operator BP of making"false promises".

BP said earlier this year that oil production at the ACGfields might be slightly lower than in 2013 as the companyplanned maintenance work at the Central Azeri and West Azeriplatforms, halting operations for a couple of weeks.

Still, production in the first half was higher than theaverage 645,800 bpd produced in the first three months of theyear.

Natural gas output at Shah Deniz stood at 4.75 billion cubicmetres (bcm), in line with the 4.8 bcm in the first half of2013. Shah Deniz is being developed by partners BP, Statoil, SOCAR and others.

(Reporting by Nailia Bagirova; Writing by Katya Golubkova;Editing by Alan Raybould)

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*

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