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BP updates operations in Azerbaijan

12/13/2010
Eric WatkinsOil Diplomacy EditorRashid Javanshir, head of BP PLC's subsidiary in Azerbaijan, said production will be reduced next year at the massive Azeri-Chirag-Gunashli (ACG) oil field in the Azerbaijani sector of the Caspian Sea.Consortium members plan to reduce the field's oil production to 850,000 b/d in 2011, just under this year's projected level of 854,000 b/d. ACG's participating interests include operator BP 37.4%, Chevron Corp. 11.3%, State Oil Co. of Azarbaijan Republic (SOCAR) 10%, INPEX Corp. 11%, Statoil ASA 8.6%, ExxonMobil Corp. 8%, Turkish Petroleum International Co. (TPAO) 6.7%, Itochu Corp. 4.3%, and Hess Corp. 2.7%.Javanshir's remarks coincided with release of BP's f...
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