Capital expenditure on ACG activities down nearly 6%

In the first half of 2023, bp and its co-venturers spent about $232 million (+$3 million or 1.31%) in operating expenditure and $746 million (-$45 million or 5.7%) in capital expenditure on ACG activities, Report informs, citing the business update - joint press release issued by BP Exploration (Caspian Sea).

During the first half of the year, the Azeri Central East (ACE) platform jacket sailed away from the Heydar Aliyev Baku Deepwater Jackets Factory, where it was built, to its permanent location at the ACG field and was installed in a water depth of 137 metres. The jacket was fully commissioned and tested onshore prior to its sail away on March 16.

ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGCVidesh (2.31%).