BP's Azeri Oil Output Down 2% in First Quarter


TBILISI, May 15 (Reuters) – Oil output at BP-led fields in Azerbaijan fell 1.99 percent in the first quarter of 2014 and gas output from the Shah Deniz field declined 4.1 percent, BP-Azerbaijan said on Thursday.

Falling output at Azeri, Chirag and Guneshli (ACG) oilfields, the biggest oil production project in Azerbaijan and one of the largest globally for oil major BP, have raised concerns in Baku.

BP and its partner, state energy firm SOCAR, have tried to calm those fears by saying last year that output had stabilised. Total oil production in the country grew last year for the first time since 2011.

BP said in a statement total oil output at the ACG fell to 7.9 million tonnes in January-March 2014 from 8.06 million in the same period last year.

Daily production fell by 2.5 percent to an average 645,800 barrels per day (bpd) from 662,000 bpd.

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

The company did not say when the work would start.

Natural gas output from the Shah Deniz offshore field in the Caspian Sea, developed by partners BP, Statoil, SOCAR and others, fell to 2.32 billion cubic metres (bcm) in the first quarter of 2014 from 2.42 bcm in the same quarter last year.

It produced 0.6 million tonnes of condensate at Shah Deniz, down from 0.63 million.

(Reporting by Margarita Antidze; Editing by William Hardy)

Copyright 2016 Thomson Reuters. Click for Restrictions.


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